Citrix Systems (NASDAQ:CTXS) Updates FY 2021 Earnings Guidance

Citrix Systems (NASDAQ:CTXS) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $4.900-$4.950 for the period. The company issued revenue guidance of $3.19 billion-$3.20 billion.

A number of brokerages recently issued reports on CTXS. Zacks Investment Research raised Citrix Systems from a sell rating to a hold rating and set a $114.00 price target for the company in a report on Tuesday, September 28th. William Blair downgraded Citrix Systems from an outperform rating to a market perform rating in a report on Tuesday, October 12th. Citigroup downgraded Citrix Systems from a buy rating to a neutral rating and lowered their price target for the company from $140.00 to $115.00 in a report on Thursday, October 7th. Jefferies Financial Group lowered their price target on Citrix Systems from $175.00 to $120.00 and set a buy rating for the company in a report on Friday, July 30th. Finally, Royal Bank of Canada lowered their price target on Citrix Systems from $110.00 to $105.00 and set a sector perform rating for the company in a report on Friday, November 5th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Citrix Systems presently has an average rating of Hold and a consensus target price of $104.50.

NASDAQ CTXS traded up $0.73 on Thursday, reaching $84.74. The stock had a trading volume of 1,365,399 shares, compared to its average volume of 1,418,904. The company has a debt-to-equity ratio of 8.32, a quick ratio of 0.65 and a current ratio of 0.66. Citrix Systems has a 12-month low of $83.46 and a 12-month high of $145.19. The business’s 50-day moving average price is $97.79 and its 200 day moving average price is $106.67. The stock has a market cap of $10.57 billion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 2.94 and a beta of 0.01.

Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Thursday, November 4th. The cloud computing company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.31. Citrix Systems had a return on equity of 155.24% and a net margin of 9.97%. The company had revenue of $778.45 million during the quarter, compared to analysts’ expectations of $770.55 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts predict that Citrix Systems will post 2.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 21st. Stockholders of record on Tuesday, December 7th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, December 6th. Citrix Systems’s dividend payout ratio (DPR) is presently 58.96%.

In other news, EVP Sridhar Mullapudi sold 690 shares of the company’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $102.69, for a total transaction of $70,856.10. Following the completion of the sale, the executive vice president now owns 20,711 shares in the company, valued at $2,126,812.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Arlen Shenkman sold 935 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $103.22, for a total value of $96,510.70. The disclosure for this sale can be found here. Insiders have sold 13,229 shares of company stock valued at $1,390,965 in the last 90 days. Company insiders own 0.61% of the company’s stock.

A hedge fund recently raised its stake in Citrix Systems stock. Morgan Stanley increased its holdings in shares of Citrix Systems, Inc. (NASDAQ:CTXS) by 15.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 700,410 shares of the cloud computing company’s stock after acquiring an additional 94,126 shares during the period. Morgan Stanley owned approximately 0.56% of Citrix Systems worth $82,137,000 as of its most recent SEC filing. 88.74% of the stock is currently owned by institutional investors and hedge funds.

About Citrix Systems

Citrix Systems, Inc engages in the design, development, and marketing of information technology solutions. It provides digital workspace that unifies apps, data, and services. The firm markets and licenses its products directly to customers through web, systems integrators, value-added resellers, and service providers.

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