Investment Analysts’ Weekly Ratings Changes for Cisco Systems (CSCO)

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Cisco Systems (NASDAQ: CSCO) recently received a number of ratings updates from brokerages and research firms:

  • 11/15/2019 – Cisco Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. They now have a $47.00 price target on the stock. According to Zacks, “Cisco’s first-quarter fiscal 2020 results were unimpressive. Revenues climbed marginally on a year-over-year basis due to sluggish performance from enterprise, commercial and service provider end markets. The company blamed sluggish macro-economic conditions (due to the U.S.-China trade, Brexit and others) and a slowing China economy for the weakness. Management expects growth in these markets to be muted in the near term. Notably, Cisco’s shares have underperformed the industry on a year-to-date basis. However, switching and wireless solutions are expected to grow. Cisco benefited from solid performance of its security business, which is expected to continue in the near term. Additionally, acquisitions of Voicea and CloudCherry hold promise.”
  • 11/14/2019 – Cisco Systems had its price target lowered by analysts at JPMorgan Chase & Co. from $62.00 to $58.00. They now have an “overweight” rating on the stock.
  • 11/14/2019 – Cisco Systems had its price target lowered by analysts at KeyCorp from $54.00 to $52.00. They now have an “overweight” rating on the stock.
  • 11/14/2019 – Cisco Systems had its price target lowered by analysts at Robert W. Baird from $54.00 to $52.00. They now have an “outperform” rating on the stock.
  • 11/14/2019 – Cisco Systems had its price target lowered by analysts at Nomura from $47.00 to $45.00. They now have a “neutral” rating on the stock.
  • 11/14/2019 – Cisco Systems was given a new $48.00 price target on by analysts at Goldman Sachs Group Inc. They now have a “neutral” rating on the stock.
  • 11/14/2019 – Cisco Systems was given a new $46.00 price target on by analysts at Credit Suisse Group AG. They now have a “neutral” rating on the stock.
  • 11/14/2019 – Cisco Systems had its “market perform” rating reaffirmed by analysts at William Blair.
  • 11/14/2019 – Cisco Systems had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
  • 11/14/2019 – Cisco Systems had its price target lowered by analysts at Morgan Stanley from $49.00 to $48.00. They now have an “equal weight” rating on the stock.
  • 11/14/2019 – Cisco Systems had its price target lowered by analysts at Barclays PLC from $51.00 to $47.00. They now have an “equal weight” rating on the stock.
  • 11/14/2019 – Cisco Systems had its price target lowered by analysts at Citigroup Inc from $57.00 to $55.00. They now have a “buy” rating on the stock.
  • 11/14/2019 – Cisco Systems had its price target lowered by analysts at Bank of America Corp from $62.00 to $56.00. They now have a “buy” rating on the stock.
  • 11/14/2019 – Cisco Systems had its “buy” rating reaffirmed by analysts at UBS Group AG. They now have a $54.00 price target on the stock, down previously from $58.00.
  • 11/14/2019 – Cisco Systems had its “buy” rating reaffirmed by analysts at Wells Fargo & Co. They now have a $58.00 price target on the stock, down previously from $60.00.
  • 11/13/2019 – Cisco Systems was given a new $56.00 price target on by analysts at Royal Bank of Canada. They now have a “buy” rating on the stock.
  • 11/12/2019 – Cisco Systems is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating on the stock.
  • 11/11/2019 – Cisco Systems was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating. They now have a $51.00 price target on the stock, down previously from $55.00.
  • 11/11/2019 – Cisco Systems had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $54.00 price target on the stock.
  • 11/7/2019 – Cisco Systems was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 11/5/2019 – Cisco Systems had its “neutral” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $49.00 price target on the stock, down previously from $50.00.
  • 11/1/2019 – Cisco Systems was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/17/2019 – Cisco Systems had its price target lowered by analysts at KeyCorp from $56.00 to $54.00. They now have an “overweight” rating on the stock.
  • 10/15/2019 – Cisco Systems was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/10/2019 – Cisco Systems was downgraded by analysts at Goldman Sachs Group Inc from a “buy” rating to a “neutral” rating. They now have a $48.00 price target on the stock, down previously from $56.00.

Cisco Systems stock traded down $0.07 during trading hours on Wednesday, reaching $45.24. 14,887,192 shares of the company were exchanged, compared to its average volume of 20,676,311. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The firm has a market cap of $190.27 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.54 and a beta of 1.28. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $46.68 and a 200 day moving average of $51.25.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $13.09 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 up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.94 EPS for the current year.

In other news, CEO Charles Robbins sold 208,084 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $44.83, for a total value of $9,328,405.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 39,343 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $44.88, for a total value of $1,765,713.84. Following the completion of the transaction, the chief accounting officer now directly owns 137,634 shares of the company’s stock, valued at $6,177,013.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 441,314 shares of company stock worth $20,367,671. 0.03% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in CSCO. Evolution Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at $33,000. Personal Wealth Partners bought a new position in Cisco Systems in the second quarter valued at about $44,000. Ashburton Jersey Ltd acquired a new stake in Cisco Systems in the second quarter worth about $49,000. Cordasco Financial Network increased its position in Cisco Systems by 78.4% in the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after purchasing an additional 502 shares during the period. Finally, Lucia Wealth Services LLC raised its holdings in Cisco Systems by 72.3% during the 2nd quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock worth $63,000 after purchasing an additional 480 shares during the last quarter. 72.62% of the stock is owned by hedge funds and other institutional investors.

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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