Market Update (NASDAQ:CSCO): Traders bullish on Cisco before earnings

[optionMONSTER] – Cisco Systems is drawing bullish option activity ahead of quarterly results next week. optionMONSTER’s monitoring program shows that 2,500 October 29 calls were purchased for $0.56 yesterday. At the same … Read more on this. Cisco Systems, Inc. (CSCO) , valued at $136.12B, opened at $26.67. Looking at the stock, its one day range is $26.51 to $27.10 with a one year range of $22.46 to $29.90. Priced at 11.53x this year’s forecasted earnings, CSCO shares are relatively expensive compared to the industry’s 11.40x forward p/e ratio. And for passive income investors, the company pays shareholders $1.04 per share annually in dividends, yielding 3.92%. In a review of the consensus earnings estimate this quarter, 33 sell-side analysts are looking at $0.55 per share, which would be $0.01 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $2.30 is a $0.09 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.97 Billion. If realized, that would be a 1.40% decrease over the year-ago quarter. More recently, JP Morgan upgraded CSCO from Underweight to Neutral (Apr 6, 2016). Previously, BofA/Merrill downgraded CSCO from Buy to Neutral. The average price target for CSCO shares by the analysts covering the stock is $29.61, which is 11.02% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Market Update (NASDAQ:CSCO): Will Cisco Systems (CSCO) Stock Gain Today From RBC Capital’s Bullish Outlook? Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Analyzing Cisco’s Return on Equity (ROE) (CSCO) Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – The Bullish and Bearish Case for Cisco in 2016