Citrix Systems (CTXS) Expected to Post Quarterly Sales of $675.78 Million

Analysts predict that Citrix Systems (NASDAQ:CTXS) will post $675.78 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Citrix Systems’ earnings, with estimates ranging from $670.30 million to $682.70 million. Citrix Systems posted sales of $662.68 million in the same quarter last year, which suggests a positive year over year growth rate of 2%. The firm is expected to report its next quarterly earnings report on Wednesday, April 25th.

On average, analysts expect that Citrix Systems will report full year sales of $675.78 million for the current financial year, with estimates ranging from $2.86 billion to $2.96 billion. For the next financial year, analysts anticipate that the business will report sales of $2.98 billion per share, with estimates ranging from $2.94 billion to $3.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Citrix Systems.

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Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, January 31st. The cloud computing company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.06. The firm had revenue of $777.90 million during the quarter, compared to the consensus estimate of $778.49 million. Citrix Systems had a positive return on equity of 38.56% and a negative net margin of 0.73%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 EPS.

Several analysts have commented on the company. Bank of America upped their price objective on Citrix Systems from $91.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Stifel Nicolaus increased their target price on Citrix Systems from $86.00 to $88.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Sanford C. Bernstein increased their target price on Citrix Systems from $95.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Mizuho reissued a “buy” rating and set a $101.00 target price on shares of Citrix Systems in a research note on Wednesday, January 31st. Finally, Morgan Stanley increased their target price on Citrix Systems from $82.00 to $84.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Citrix Systems presently has a consensus rating of “Hold” and an average price target of $91.31.

In related news, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $92.62, for a total value of $1,157,750.00. Following the completion of the transaction, the chief executive officer now directly owns 281,777 shares of the company’s stock, valued at approximately $26,098,185.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Calderoni sold 62,237 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $95.78, for a total value of $5,961,059.86. Following the completion of the transaction, the insider now directly owns 208,112 shares of the company’s stock, valued at $19,932,967.36. The disclosure for this sale can be found here. Insiders sold a total of 77,237 shares of company stock valued at $7,341,060 over the last ninety days. 0.44% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTXS. Dynamic Technology Lab Private Ltd purchased a new position in Citrix Systems in the 3rd quarter valued at approximately $323,000. Pacer Advisors Inc. increased its stake in Citrix Systems by 9.8% in the 3rd quarter. Pacer Advisors Inc. now owns 7,339 shares of the cloud computing company’s stock valued at $564,000 after purchasing an additional 655 shares in the last quarter. ETRADE Capital Management LLC increased its stake in Citrix Systems by 17.6% in the 3rd quarter. ETRADE Capital Management LLC now owns 9,928 shares of the cloud computing company’s stock valued at $763,000 after purchasing an additional 1,488 shares in the last quarter. Legal & General Group Plc increased its stake in Citrix Systems by 1.0% in the 3rd quarter. Legal & General Group Plc now owns 763,366 shares of the cloud computing company’s stock valued at $58,642,000 after purchasing an additional 7,896 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Citrix Systems by 7.5% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 345,961 shares of the cloud computing company’s stock valued at $26,577,000 after purchasing an additional 24,201 shares in the last quarter. 91.46% of the stock is owned by hedge funds and other institutional investors.

CTXS opened at $92.80 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.14. The company has a market cap of $12,634.79, a price-to-earnings ratio of 22.36, a P/E/G ratio of 2.93 and a beta of 1.27. Citrix Systems has a 52 week low of $73.33 and a 52 week high of $96.96.

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Citrix Systems Company Profile

Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.

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Earnings History and Estimates for Citrix Systems (NASDAQ:CTXS)

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