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Market Update (NASDAQ:CSCO): Cisco earnings could quell or reignite tech fears

[at MarketWatch] – Investors have used Cisco Systems Inc. to measure the temperature of the enterprise tech sector, and recent weakness for competitors could make this week’s gauge even more important. Read more on this. Cisco Systems, Inc. (CSCO) , valued at $134.06B, opened this morning at $26.56. Looking at today’s market, CSCO one day range is $26.49 to $26.78 and has traded between $22.46 and $29.85 over the past year. Cisco (CSCO) shares are currently priced at 11.59x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -2.26x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.04 per share annually in dividends, yielding 3.92%. According to a consensus of 33 analysts, the earnings estimate of $0.55 per share would be $0.01 better than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $2.30 would be a $0.09 better 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 is $29.41, which is 10.73% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Market Update (NASDAQ:CSCO): Deutsche Bank and Cisco to Host Service Provider Tech Talk Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco ruling could lead to ban on Arista tech imports Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Analyzing Cisco’s Return on Equity (ROE) (CSCO)
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