$11.88 Billion in Sales Expected for Cisco Systems, Inc. (NASDAQ:CSCO) This Quarter

Wall Street brokerages forecast that Cisco Systems, Inc. (NASDAQ:CSCO) will report sales of $11.88 billion for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Cisco Systems’ earnings, with estimates ranging from $11.82 billion to $11.93 billion. Cisco Systems posted sales of $13.16 billion in the same quarter last year, which would indicate a negative year over year growth rate of 9.7%. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, November 12th.

According to Zacks, analysts expect that Cisco Systems will report full-year sales of $48.25 billion for the current year, with estimates ranging from $46.71 billion to $49.21 billion. For the next fiscal year, analysts forecast that the business will report sales of $49.98 billion, with estimates ranging from $48.02 billion to $51.18 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Cisco Systems.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $12.09 billion. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. During the same period in the prior year, the firm posted $0.83 EPS.

CSCO has been the topic of several analyst reports. Goldman Sachs Group reissued a “neutral” rating and set a $45.00 target price on shares of Cisco Systems in a report on Thursday, August 13th. ValuEngine downgraded Cisco Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. JPMorgan Chase & Co. dropped their price objective on Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. Credit Suisse Group upped their price objective on Cisco Systems from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Finally, Bank of America dropped their price objective on Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $47.45.

In related news, EVP Irving Tan sold 4,141 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $42.08, for a total transaction of $174,253.28. Following the completion of the sale, the executive vice president now owns 125,860 shares of the company’s stock, valued at $5,296,188.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly A. Kramer sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total value of $1,890,450.00. Insiders have sold 60,166 shares of company stock valued at $2,528,248 in the last ninety days. 0.03% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB grew its stake in Cisco Systems by 103.2% in the second quarter. Nordea Investment Management AB now owns 48,175,664 shares of the network equipment provider’s stock valued at $2,249,322,000 after acquiring an additional 24,469,149 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Cisco Systems by 20.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 22,137,775 shares of the network equipment provider’s stock valued at $1,024,437,000 after acquiring an additional 3,834,365 shares during the period. First Trust Advisors LP grew its stake in Cisco Systems by 33.4% in the second quarter. First Trust Advisors LP now owns 22,129,042 shares of the network equipment provider’s stock valued at $1,032,099,000 after acquiring an additional 5,546,028 shares during the period. FIL Ltd grew its stake in Cisco Systems by 7.7% in the second quarter. FIL Ltd now owns 20,460,182 shares of the network equipment provider’s stock valued at $954,263,000 after acquiring an additional 1,462,318 shares during the period. Finally, Swiss National Bank grew its stake in Cisco Systems by 3.9% in the second quarter. Swiss National Bank now owns 17,476,145 shares of the network equipment provider’s stock valued at $815,087,000 after acquiring an additional 650,500 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

CSCO opened at $40.16 on Thursday. The firm has a market cap of $170.01 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Cisco Systems has a 52-week low of $32.40 and a 52-week high of $50.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 1.72. The business’s fifty day moving average is $39.95 and its 200-day moving average is $43.30.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.44 annualized dividend and a yield of 3.59%. Cisco Systems’s dividend payout ratio is currently 49.32%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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