Cisco Systems (NASDAQ:CSCO) Updates Q3 2020 After-Hours Earnings Guidance

Cisco Systems (NASDAQ:CSCO) updated its third quarter 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share guidance of 0.79-0.81 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.80. The company issued revenue guidance of $12.504-12.764 billion, compared to the consensus revenue estimate of $12.62 billion.Cisco Systems also updated its Q3 guidance to $0.79-0.81 EPS.

Shares of CSCO stock traded down $0.35 during mid-day trading on Friday, hitting $46.97. 26,733,355 shares of the stock traded hands, compared to its average volume of 19,355,203. Cisco Systems has a twelve month low of $43.40 and a twelve month high of $58.26. The firm has a market cap of $207.32 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. The company’s 50-day simple moving average is $47.95 and its 200-day simple moving average is $47.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.70.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $11.98 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. Analysts forecast that Cisco Systems will post 2.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be given a $0.36 dividend. The ex-dividend date is Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 3.07%. Cisco Systems’s payout ratio is 49.12%.

A number of brokerages have weighed in on CSCO. Needham & Company LLC reissued a hold rating on shares of Cisco Systems in a report on Thursday, November 14th. Citigroup reaffirmed a buy rating and issued a $55.00 price objective on shares of Cisco Systems in a research note on Thursday. Piper Jaffray Companies cut shares of Cisco Systems from an overweight rating to a neutral rating and lowered their price objective for the stock from $55.00 to $51.00 in a research note on Monday, November 11th. Evercore ISI reiterated a buy rating on shares of Cisco Systems in a report on Sunday, December 15th. Finally, Barclays raised shares of Cisco Systems from an equal weight rating to an overweight rating and set a $53.00 target price for the company in a research note on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $54.41.

In other news, CEO Charles Robbins sold 12,597 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $44.81, for a total value of $564,471.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Irving Tan sold 28,093 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.36, for a total value of $1,274,298.48. Following the completion of the sale, the executive vice president now directly owns 151,587 shares of the company’s stock, valued at approximately $6,875,986.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 388,864 shares of company stock worth $17,474,321. 0.03% of the stock is currently owned by insiders.

Cisco Systems Company Profile

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

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