Cisco Systems (CSCO)

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Cisco Systems Given New $24.00 Price Target at MKM Partners (CSCO)
Posted by Wayne Rhoads on Feb 14th, 2014 // No Comments

Cisco Systems Inc. logoCisco Systems (NASDAQ:CSCO) had its price target increased by MKM Partners from $20.00 to $24.00 in a research report sent to investors on Thursday morning, Stock Ratings Network reports. The firm currently has a neutral rating on the stock.

Cisco Systems (NASDAQ:CSCO) opened at 22.3295 on Thursday. Cisco Systems has a 52 week low of $19.98 and a 52 week high of $26.49. The stock’s 50-day moving average is $22.26 and its 200-day moving average is $22.96. The company has a market cap of $119.4 billion and a price-to-earnings ratio of 12.11. Cisco Systems also was the recipient of unusually large options trading activity on Wednesday. Traders bought 233,965 call options on the stock. This represents an increase of approximately 414% compared to the typical volume of 45,514 call options.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.01. The company had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $11.03 billion.

During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Analysts expect that Cisco Systems will post $1.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.41%.

CSCO has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a buy rating on shares of Cisco Systems in a research note on Tuesday. Separately, analysts at Sterne Agee reiterated a buy rating on shares of Cisco Systems in a research note on Tuesday. They now have a $21.00 price target on the stock, down previously from $25.00. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $24.90.

Cisco Systems, Inc designs, manufactures, and sells Internet protocol (NASDAQ:CSCO)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
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