Cisco Systems (NASDAQ:CSCO)‘s stock had its “outperform” rating reaffirmed by investment analysts at William Blair in a research note issued to investors on Thursday, AnalystRatingsNetwork reports.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 0.10% during mid-day trading on Thursday, hitting $24.4601. 13,314,597 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $16.68 and a 52-week high of $26.49. The stock’s 50-day moving average is $25.50 and its 200-day moving average is $22.81. The company has a market cap of $130.7 billion and a P/E ratio of 13.60. Cisco Systems also saw unusually large options trading on Wednesday. Traders acquired 333,500 call options on the stock. This represents an increase of approximately 392% compared to the average daily volume of 67,834 call options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.51 by $0.01. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $12.40 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $2.12 earnings per share for the current fiscal year.
CSCO has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “hold” rating on shares of Cisco Systems in a research note to investors on Thursday. They now have a $22.00 price target on the stock. Separately, analysts at ISI Group upgraded shares of Cisco Systems from a “cautious” rating to a “neutral” rating in a research note to investors on Thursday. Finally, analysts at Northland Securities reiterated an “outperform” rating on shares of Cisco Systems in a research note to investors on Tuesday. They now have a $30.00 price target on the stock, up previously from $26.00.
One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $26.25.
Cisco Systems, Inc designs, manufactures, and sells Internet protocol (NASDAQ:CSCO)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.