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Company Update (NASDAQ:CSCO): Cisco Jumps On Earnings, Outlook; Analysts Hail ‘Strong Execution’

[at Investor’s Business Daily] – Cisco Systems (CSCO) received several price-target hikes after its fiscal Q3 earnings late Wednesday beat on both the top and bottom lines, as did its earnings and revenue guidance. For its fiscal third … Read more on this. Cisco Systems, Inc. (CSCO) , with a current market cap of $138.74B, started trading this morning at $28.00. During the trading session, CSCO traded between $27.40 to $28.29 with a trailing 52-week range being $22.46 to $29.77. CSCO shares are currently priced at 11.62x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -2.84x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.04 per share annually in dividends, yielding 3.86%. According to a consensus of 33 analysts, the earnings estimate of $0.58 per share would be $0.01 worse than the year-ago quarter and a $0.01 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 predicated on a consensus revenue forecast of $12.44 Billion. If reported, that would be a 3.12% decrease over the year-ago quarter. In terms of ratings, JP Morgan upgraded CSCO from Underweight to Neutral (Apr 6, 2016). Previously, BofA/Merrill downgraded CSCO from Buy to Neutral. When considering if the stock is under or overvalued, the average price target is $29.41, which is 5.04% 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? Stock Update (NASDAQ:CSCO): Huge Cisco Quarter and Outlook Could Benefit 5 Top Companies Market Update (NASDAQ:CSCO): Analysts Expect Cisco’s Revenues to Fall in Fiscal 2Q16
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