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Stock Update (NASDAQ:CSCO): Cisco (CSCO) Stock Closed Higher, Bernstein Bullish Following Earnings

[at TheStreet] – Cisco (CSCO) stock climbed on Friday after Bernstein reiterated an ‘outperform’ rating given the company’s strong quarterly results and optimistic outlook. Read more on this. Cisco Systems, Inc. (CSCO) , currently valued at $140.75B, started trading this morning at $27.63. Looking at today’s trading action, the company’s one day range from $27.62 to $28.15 and has traded between $22.46 and $29.62 over the past year. CSCO shares are currently priced at 11.83x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -2.84x earnings multiple. And for income investors, the company pays shareholders $1.04 per share annually in dividends, yielding 3.90%. According to a consensus of 33 analysts, the earnings estimate of $0.60 per share would be $0.01 better than the year-ago quarter and a $0.01 sequential increase. What we find to be interesting is that the full-year EPS estimate of $2.33 is a $0.12 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 $12.61 Billion. If realized, that would be a 1.79% 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. The average price target for CSCO shares is $30.96, which is 12.05% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Stock Update (NASDAQ:CSCO): Cisco Stock Could Head Higher After Earnings — Plus Jim Cramer’s Take Market Update (NASDAQ:CSCO): Traders bullish on Cisco before earnings Company Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco (CSCO) Stock Higher on Recent Investments
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