Cisco Systems (NASDAQ:CSCO) announced its quarterly earnings data on Wednesday. The network equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01, RTT News reports. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $11.98 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. Cisco Systems updated its Q3 2020
After-Hours guidance to 0.79-0.81 EPS and its Q3 guidance to $0.79-0.81 EPS.

Shares of CSCO stock traded down $0.52 during trading on Friday, hitting $46.80. The company had a trading volume of 6,396,277 shares, compared to its average volume of 19,108,439. The stock’s 50-day moving average is $47.96 and its two-hundred day moving average is $47.93. The stock has a market capitalization of $207.32 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. 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 has a 52 week low of $43.40 and a 52 week high of $58.26.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.08%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio is 49.12%.

CSCO has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, November 14th. Piper Jaffray Companies downgraded Cisco Systems from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $51.00 in a research note on Monday, November 11th. Credit Suisse Group reduced their target price on Cisco Systems from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a research report on Wednesday, January 15th. Finally, Edward Jones raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Twelve investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $54.41.

In related news, EVP Irving Tan sold 10,733 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $44.81, for a total value of $480,945.73. Following the completion of the transaction, the executive vice president now directly owns 172,199 shares in the company, valued at $7,716,237.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark D. Chandler sold 19,880 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $44.83, for a total value of $891,220.40. The disclosure for this sale can be found here. Insiders sold 388,864 shares of company stock worth $17,474,321 over the last ninety days. 0.03% of the stock is currently owned by insiders.

About Cisco Systems

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 for Cisco Systems (NASDAQ:CSCO)

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