Cisco Systems (NASDAQ:CSCO) Given "Hold" Rating at HSBC
HSBC has restated a "hold" rating for Cisco Systems (NASDAQ:CSCO) with a price target of $69.00, indicating a potential downside of 0.43%. Other analysts have varied opinions, with New Street Research at $70.00, Evercore ISI at $74.00, and Bank of America raising their target to $85.00. Cisco's stock opened at $69.30, with a market cap of $274.43 billion and a P/E ratio of 26.45. The company reported earnings of $0.99 per share, beating estimates, and a revenue increase of 7.6% year-over-year.
Cisco Systems (NASDAQ:CSCO - Get Free Report)'s stock had its "hold" rating restated by equities researchers at HSBC in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $69.00 price objective on the network equipment provider's stock. HSBC's price target points to a potential downside of 0.43% from the company's current price.
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Other analysts have also recently issued research reports about the stock. New Street Research restated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Evercore ISI lifted their price objective on Cisco Systems from $72.00 to $74.00 and gave the company an "in-line" rating in a report on Thursday. Bank of America increased their target price on Cisco Systems from $76.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley lifted their price target on Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company increased their price objective on Cisco Systems from $75.00 to $83.00 and gave the stock an "overweight" rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.45.
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Cisco Systems Stock Performance
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Shares of CSCO stock opened at $69.30 on Friday. The company has a market cap of $274.43 billion, a P/E ratio of 26.45, a PEG ratio of 3.90 and a beta of 0.91. The firm has a fifty day moving average price of $67.98 and a 200 day moving average price of $63.28. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems has a 12 month low of $47.85 and a 12 month high of $72.55.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a return on equity of 27.24% and a net margin of 18.45%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. Sell-side analysts predict that Cisco Systems will post 3.04 earnings per share for the current fiscal year.
Insider Activity
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In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president owned 36,937 shares in the company, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares of the company's stock, valued at $11,331,498.27. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,731 shares of company stock valued at $5,021,519. Corporate insiders own 0.01% of the company's stock.
Institutional Investors Weigh In On Cisco Systems
Institutional investors and hedge funds have recently made changes to their positions in the business. Bare Financial Services Inc lifted its stake in Cisco Systems by 531.0% in the second quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider's stock worth $25,000 after purchasing an additional 308 shares during the last quarter. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $26,000. Financial Connections Group Inc. lifted its holdings in shares of Cisco Systems by 89.4% during the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider's stock valued at $28,000 after buying an additional 193 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in Cisco Systems in the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 73.33% of the company's stock.
Cisco Systems Company Profile
(Get Free Report)Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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