Analysts expect Citrix Systems, Inc. (NASDAQ:CTXS) to post sales of $691.06 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Citrix Systems’ earnings. The lowest sales estimate is $689.80 million and the highest is $693.00 million. Citrix Systems reported sales of $841.25 million during the same quarter last year, which would suggest a negative year over year growth rate of 17.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Citrix Systems will report full year sales of $691.06 million for the current year. For the next financial year, analysts forecast that the firm will report sales of $2.94 billion per share, with estimates ranging from $2.87 billion to $3.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Citrix Systems.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings data on Wednesday, August 2nd. The cloud computing company reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The business had revenue of $693 million during the quarter, compared to the consensus estimate of $690.83 million. Citrix Systems had a return on equity of 31.07% and a net margin of 15.08%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share.
CTXS has been the subject of a number of research reports. BidaskClub cut shares of Citrix Systems from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $77.00 target price on shares of Citrix Systems in a report on Thursday, August 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $90.00 target price (up from $87.00) on shares of Citrix Systems in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “sell” rating and set a $61.00 target price on shares of Citrix Systems in a report on Friday, August 11th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $85.00 target price on shares of Citrix Systems in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $89.25.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Citrix Systems by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,743,592 shares of the cloud computing company’s stock worth $1,229,468,000 after buying an additional 317,385 shares in the last quarter. Elliott Management Corp raised its position in shares of Citrix Systems by 5.7% in the first quarter. Elliott Management Corp now owns 7,091,000 shares of the cloud computing company’s stock worth $591,318,000 after buying an additional 384,456 shares in the last quarter. Bank of Montreal Can raised its position in shares of Citrix Systems by 35.6% in the second quarter. Bank of Montreal Can now owns 5,036,419 shares of the cloud computing company’s stock worth $400,799,000 after buying an additional 1,321,350 shares in the last quarter. First Trust Advisors LP raised its position in shares of Citrix Systems by 10.4% in the second quarter. First Trust Advisors LP now owns 2,475,053 shares of the cloud computing company’s stock worth $196,965,000 after buying an additional 233,370 shares in the last quarter. Finally, Nomura Holdings Inc. raised its position in shares of Citrix Systems by 40.7% in the first quarter. Nomura Holdings Inc. now owns 2,023,103 shares of the cloud computing company’s stock worth $168,767,000 after buying an additional 584,905 shares in the last quarter. Hedge funds and other institutional investors own 93.62% of the company’s stock.
Citrix Systems (CTXS) traded up 1.58% on Monday, reaching $78.21. 1,369,844 shares of the company traded hands. Citrix Systems has a 1-year low of $64.11 and a 1-year high of $87.99. The stock’s 50-day moving average is $78.37 and its 200-day moving average is $81.10. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 26.35 and a beta of 1.49.
About Citrix Systems
Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.
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