BidaskClub Downgrades Cisco Systems (NASDAQ:CSCO) to Hold

Share on StockTwits

BidaskClub lowered shares of Cisco Systems (NASDAQ:CSCO) from a buy rating to a hold rating in a research note published on Tuesday morning, BidAskClub reports.

CSCO has been the subject of several other reports. KeyCorp lifted their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, February 14th. Oppenheimer lifted their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Bank of America reaffirmed a buy rating and set a $56.00 price objective on shares of Cisco Systems in a research report on Thursday, February 14th. Zacks Investment Research cut shares of Cisco Systems from a buy rating to a hold rating in a research report on Thursday, May 16th. Finally, MKM Partners lifted their price objective on shares of Cisco Systems to $56.00 and gave the stock a neutral rating in a research report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Cisco Systems presently has an average rating of Buy and an average target price of $55.92.

Cisco Systems stock opened at $56.17 on Tuesday. The firm has a market cap of $239.12 billion, a PE ratio of 24.00, a PEG ratio of 2.85 and a beta of 1.21. Cisco Systems has a 12-month low of $40.25 and a 12-month high of $57.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.64.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The business had revenue of $12.96 billion during the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. As a group, sell-side analysts forecast that Cisco Systems will post 2.8 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.49%. Cisco Systems’s dividend payout ratio (DPR) is presently 59.83%.

In other news, EVP Mark D. Chandler sold 3,750 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $55.79, for a total value of $209,212.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the completion of the sale, the chief financial officer now directly owns 349,122 shares of the company’s stock, valued at $18,698,974.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,129 shares of company stock valued at $4,035,554. 0.03% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Holderness Investments Co. increased its stake in shares of Cisco Systems by 2.3% during the third quarter. Holderness Investments Co. now owns 68,710 shares of the network equipment provider’s stock worth $3,343,000 after acquiring an additional 1,576 shares during the period. Johnson Financial Group Inc. increased its stake in shares of Cisco Systems by 12.1% during the third quarter. Johnson Financial Group Inc. now owns 142,844 shares of the network equipment provider’s stock worth $6,950,000 after acquiring an additional 15,389 shares during the period. Truewealth LLC increased its stake in shares of Cisco Systems by 6.7% during the fourth quarter. Truewealth LLC now owns 14,170 shares of the network equipment provider’s stock worth $614,000 after acquiring an additional 890 shares during the period. Lynch & Associates IN increased its stake in shares of Cisco Systems by 1.1% during the fourth quarter. Lynch & Associates IN now owns 143,122 shares of the network equipment provider’s stock worth $6,201,000 after acquiring an additional 1,544 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Cisco Systems by 107.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 407,383 shares of the network equipment provider’s stock worth $17,651,000 after acquiring an additional 210,659 shares during the period. 74.60% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: How Do Investors Open a Backdoor Roth IRA?

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Einsteinium Price Tops $0.12 on Major Exchanges
Einsteinium Price Tops $0.12 on Major Exchanges
Dixon Hubard Feinour & Brown Inc. VA Purchases 182 Shares of Boeing Co
Dixon Hubard Feinour & Brown Inc. VA Purchases 182 Shares of Boeing Co
Republic Bancorp, Inc. KY  Given Consensus Rating of “Hold” by Brokerages
Republic Bancorp, Inc. KY Given Consensus Rating of “Hold” by Brokerages
Dixon Hubard Feinour & Brown Inc. VA Boosts Stake in Duke Energy Corp
Dixon Hubard Feinour & Brown Inc. VA Boosts Stake in Duke Energy Corp
Dixon Hubard Feinour & Brown Inc. VA Cuts Holdings in Global Payments Inc
Dixon Hubard Feinour & Brown Inc. VA Cuts Holdings in Global Payments Inc
Weiss Asset Management LP Purchases Shares of 288,655 Ready Capital Corp
Weiss Asset Management LP Purchases Shares of 288,655 Ready Capital Corp


© 2006-2019 Ticker Report