Cisco Systems (CSCO)

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Cisco Systems Stock Rating Reaffirmed by Argus (CSCO)
Posted by Wayne Rhoads on Mar 17th, 2014 // No Comments

Cisco Systems, Inc. logoCisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating restated by Argus in a research note issued on Monday, AnalystRatingsNetwork.com reports. They currently have a $27.00 price objective on the stock. Argus’ price target indicates a potential upside of 26.46% from the company’s current price.
CSCO has been the subject of a number of other recent research reports. Analysts at Goldman Sachs raised their price target on shares of Cisco Systems from $25.00 to $26.00 in a research note on Wednesday, March 12th. Separately, analysts at Sanford C. Bernstein initiated coverage on shares of Cisco Systems in a research note on Monday, March 10th. They set an “outperform” rating and a $30.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.12.

In other Cisco Systems news, COO Gary B. Moore unloaded 19,846 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $21.38, for a total value of $424,307.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Cisco Systems (NASDAQ:CSCO) opened at 21.3499 on Monday. 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 $22.02 and its 200-day moving average is $22.44. The company has a market cap of $110.0 billion and a price-to-earnings ratio of 14.15. Cisco Systems also was the recipient of a large decline in short interest in the month of January. As of February 28th, there was short interest totalling 65,926,986 shares, a decline of 7.6% from the February 14th total of 71,360,355 shares. Based on an average trading volume of 35,065,395 shares, the short-interest ratio is presently 1.9 days.

Currently, 1.3% of the company’s shares are sold short.

Cisco Systems (NASDAQ:CSCO) last released its earnings data 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. On average, analysts predict that Cisco Systems will post $1.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 23rd. Shareholders 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 3.56%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.17.

Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-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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