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

Cisco Systems (NASDAQ:CSCO) issued an update on its third quarter 2020
After-Hours earnings guidance on Wednesday morning. 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 NASDAQ:CSCO traded down $0.35 during midday trading on Friday, reaching $46.97. The company’s stock had a trading volume of 26,733,355 shares, compared to its average volume of 19,355,203. The firm has a market capitalization of $207.32 billion, a PE ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 1.22. Cisco Systems has a twelve month low of $43.40 and a twelve month high of $58.26. The stock has a fifty day moving average of $47.95 and a 200 day moving average of $47.89. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 0.42.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $11.98 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. Sell-side analysts anticipate that Cisco Systems will post 2.94 earnings per share for the current fiscal year.

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

CSCO has been the topic of a number of research reports. Barclays upgraded shares of Cisco Systems from an equal weight rating to an overweight rating and set a $53.00 price objective on the stock in a research note on Thursday, December 19th. UBS Group reiterated a buy rating and issued a $54.00 price objective (down previously from $58.00) on shares of Cisco Systems in a research note on Thursday, November 14th. Evercore ISI reissued a buy rating on shares of Cisco Systems in a report on Sunday, December 15th. KeyCorp increased their price target on shares of Cisco Systems from $52.00 to $54.00 and gave the stock an overweight rating in a report on Wednesday, January 22nd. Finally, Raymond James lowered their price target on shares of Cisco Systems from $55.00 to $54.00 and set an outperform rating on the stock in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $54.41.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the transaction, the chief financial officer now directly owns 352,587 shares of the company’s stock, valued at $15,933,406.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 12,597 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $564,471.57. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock worth $17,474,321 over the last three months. 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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