Wall Street brokerages predict that Citrix Systems, Inc. (NASDAQ:CTXS) will announce $1.59 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Citrix Systems’ earnings, with the lowest EPS estimate coming in at $1.43 and the highest estimate coming in at $1.66. Citrix Systems posted earnings per share of $1.66 during the same quarter last year, which suggests a negative year-over-year growth rate of 4.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 30th.
On average, analysts expect that Citrix Systems will report full year earnings of $5.58 per share for the current financial year, with EPS estimates ranging from $5.55 to $5.60. For the next year, analysts expect that the business will report earnings of $6.04 per share, with EPS estimates ranging from $5.98 to $6.16. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Citrix Systems.
Citrix Systems (NASDAQ:CTXS) last posted its earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.15. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. The business had revenue of $732.47 million during the quarter, compared to the consensus estimate of $722.76 million. During the same period in the previous year, the business earned $1.22 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Citrix Systems from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. BidaskClub cut Citrix Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Robert W. Baird restated a “hold” rating and issued a $120.00 price target on shares of Citrix Systems in a research report on Thursday, July 26th. Stifel Nicolaus boosted their price target on Citrix Systems from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Finally, Morgan Stanley boosted their price target on Citrix Systems from $92.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $114.21.
In other Citrix Systems news, VP Jessica Soisson sold 1,136 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $113.78, for a total transaction of $129,254.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Calderoni sold 2,128 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $113.28, for a total value of $241,059.84. Following the transaction, the insider now owns 145,790 shares in the company, valued at approximately $16,515,091.20. The disclosure for this sale can be found here. Insiders have sold a total of 21,641 shares of company stock worth $2,315,751 in the last quarter. 0.56% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. acquired a new position in Citrix Systems during the 3rd quarter worth approximately $102,000. Captrust Financial Advisors increased its position in Citrix Systems by 2,623.7% during the 3rd quarter. Captrust Financial Advisors now owns 1,035 shares of the cloud computing company’s stock worth $115,000 after purchasing an additional 997 shares during the period. Fort L.P. acquired a new position in Citrix Systems during the 2nd quarter worth approximately $120,000. Piedmont Investment Advisors LLC acquired a new position in Citrix Systems during the 2nd quarter worth approximately $153,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Citrix Systems during the 2nd quarter worth approximately $163,000.
CTXS stock traded up $0.77 during trading on Thursday, hitting $106.89. The company had a trading volume of 1,258,906 shares, compared to its average volume of 1,768,609. The stock has a market capitalization of $14.30 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 2.64 and a beta of 1.36. Citrix Systems has a 1-year low of $83.70 and a 1-year high of $116.82. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.
Citrix Systems declared that its board has initiated a stock buyback program on Wednesday, October 24th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the cloud computing company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, December 6th.
About Citrix Systems
Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.
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