BMO Capital Markets Increases Cisco Systems (CSCO) Price Target to $48.00

Cisco Systems (NASDAQ:CSCO) had its price objective boosted by equities research analysts at BMO Capital Markets from $43.00 to $48.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “market perform” rating on the network equipment provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 6.29% from the company’s current price.

Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Goldman Sachs Group set a $56.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Thursday. BidaskClub lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Piper Jaffray Companies set a $50.00 price objective on Cisco Systems and gave the company a “buy” rating in a report on Monday, July 9th. Finally, Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 price objective on the stock. in a report on Wednesday, April 18th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $47.58.

Shares of CSCO traded up $1.30 during midday trading on Thursday, hitting $45.16. The company’s stock had a trading volume of 48,496,300 shares, compared to its average volume of 25,006,873. Cisco Systems has a one year low of $30.36 and a one year high of $46.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.28 and a current ratio of 2.34. The firm has a market cap of $210.91 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.64 and a beta of 1.07.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same quarter last year, the company posted $0.61 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts forecast that Cisco Systems will post 2.34 EPS for the current fiscal year.

In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of Cisco Systems stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the transaction, the executive vice president now directly owns 490,458 shares of the company’s stock, valued at approximately $21,222,117.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CSCO. Keeler Thomas Management LLC acquired a new position in Cisco Systems during the 4th quarter worth about $108,000. JJJ Advisors Inc. acquired a new position in shares of Cisco Systems in the 2nd quarter valued at about $110,000. Certified Advisory Corp acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $116,000. Trustcore Financial Services LLC lifted its stake in shares of Cisco Systems by 143.5% in the 1st quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock valued at $141,000 after purchasing an additional 1,941 shares during the period. Finally, Smart Portfolios LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at about $146,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

Further Reading: Leveraged Buyout (LBO) Explained

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