Oppenheimer Holdings Weighs in on Cisco Systems, Inc.’s Q2 2018 Earnings (CSCO)

Cisco Systems, Inc. (NASDAQ:CSCO) – Stock analysts at Oppenheimer Holdings increased their Q2 2018 EPS estimates for Cisco Systems in a note issued to investors on Wednesday. Oppenheimer Holdings analyst I. Kidron now forecasts that the network equipment provider will post earnings per share of $0.53 for the quarter, up from their previous estimate of $0.51. Oppenheimer Holdings has a “Buy” rating and a $36.00 price target on the stock. Oppenheimer Holdings also issued estimates for Cisco Systems’ Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.56 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.57 EPS and FY2019 earnings at $2.23 EPS.

CSCO has been the topic of a number of other reports. Royal Bank Of Canada restated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Wednesday, November 15th. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price target on the stock. in a research report on Monday, September 25th. Stifel Nicolaus set a $34.00 price target on shares of Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday, August 15th. BMO Capital Markets restated a “hold” rating and set a $32.00 price target on shares of Cisco Systems in a research report on Thursday, September 28th. Finally, JMP Securities restated a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $36.73.

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Shares of Cisco Systems (NASDAQ:CSCO) traded down $0.16 during midday trading on Monday, hitting $36.50. 6,441,337 shares of the stock traded hands, compared to its average volume of 20,259,197. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $36.97. The firm has a market capitalization of $180,740.03, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.15 and a beta of 1.15. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year.

A number of hedge funds have recently added to or reduced their stakes in CSCO. BTC Capital Management Inc. raised its position in Cisco Systems by 21.5% in the 1st quarter. BTC Capital Management Inc. now owns 169,076 shares of the network equipment provider’s stock valued at $5,716,000 after purchasing an additional 29,972 shares during the last quarter. Hennessy Advisors Inc. raised its position in Cisco Systems by 12.5% in the 1st quarter. Hennessy Advisors Inc. now owns 363,310 shares of the network equipment provider’s stock valued at $12,280,000 after purchasing an additional 40,455 shares during the last quarter. Callahan Advisors LLC raised its position in Cisco Systems by 1.4% in the 1st quarter. Callahan Advisors LLC now owns 256,143 shares of the network equipment provider’s stock valued at $8,658,000 after purchasing an additional 3,449 shares during the last quarter. Capital Advisors Inc. OK raised its position in Cisco Systems by 2.5% in the 1st quarter. Capital Advisors Inc. OK now owns 429,580 shares of the network equipment provider’s stock valued at $14,520,000 after purchasing an additional 10,302 shares during the last quarter. Finally, Welch & Forbes LLC raised its position in Cisco Systems by 6.9% in the 1st quarter. Welch & Forbes LLC now owns 392,495 shares of the network equipment provider’s stock valued at $13,266,000 after purchasing an additional 25,454 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

In other news, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the transaction, the chief executive officer now owns 552,694 shares in the company, valued at approximately $17,719,369.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Karen Walker sold 23,110 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the transaction, the senior vice president now owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,138 shares of company stock valued at $7,562,574. Company insiders own 0.05% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s payout ratio is 60.10%.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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