Citrix Systems (NASDAQ:CTXS) Updates Q3 2019 Earnings Guidance

Citrix Systems (NASDAQ:CTXS) issued an update on its third quarter 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.15-1.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.55. The company issued revenue guidance of $700-720 million, compared to the consensus revenue estimate of $763.24 million.Citrix Systems also updated its FY 2019 guidance to $5.35-5.60 EPS.

Shares of NASDAQ CTXS traded up $0.52 during midday trading on Friday, reaching $95.59. 2,897,647 shares of the stock were exchanged, compared to its average volume of 2,050,271. The business’s 50-day moving average is $98.78. The stock has a market capitalization of $13.26 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. Citrix Systems has a 12 month low of $93.12 and a 12 month high of $114.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.34.

Citrix Systems (NASDAQ:CTXS) last announced its earnings results on Wednesday, July 24th. The cloud computing company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.27. Citrix Systems had a net margin of 17.60% and a return on equity of 91.21%. The firm had revenue of $748.70 million for the quarter, compared to analysts’ expectations of $772.00 million. During the same quarter in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Citrix Systems will post 4.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, September 5th. Citrix Systems’s payout ratio is 30.57%.

CTXS has been the subject of several research reports. Wedbush reduced their price target on shares of PTC from $100.00 to $90.00 and set a neutral rating for the company in a research report on Thursday. Deutsche Bank reaffirmed a buy rating and set a GBX 6,800 ($88.85) price objective on shares of in a research report on Thursday, June 6th. BidaskClub raised WhiteHorse Finance from a sell rating to a hold rating in a research report on Thursday, July 18th. Zacks Investment Research raised Triple-S Management from a hold rating to a buy rating and set a $26.00 price objective for the company in a research report on Monday, April 29th. Finally, ValuEngine raised Alleghany from a hold rating to a buy rating in a report on Friday, April 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $112.20.

In other Citrix Systems news, CEO David J. Henshall sold 4,298 shares of Citrix Systems stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.00, for a total value of $434,098.00. Following the sale, the chief executive officer now directly owns 378,327 shares in the company, valued at approximately $38,211,027. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Henshall sold 6,353 shares of Citrix Systems stock in a transaction on Monday, July 1st. The shares were sold at an average price of $99.44, for a total transaction of $631,742.32. Following the completion of the sale, the chief executive officer now owns 368,156 shares in the company, valued at $36,609,432.64. The disclosure for this sale can be found here. In the last three months, insiders sold 17,466 shares of company stock valued at $1,716,076. 0.54% of the stock is currently owned by company insiders.

Citrix Systems Company Profile

Citrix Systems, Inc provides workspace, networking, and analytics solutions worldwide. The company offers workspace services, including Citrix Virtual Apps and Desktops, a cloud-enabled app and desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and Citrix Virtual Apps that allows Windows and Linux applications to be remotely delivered to Macs, PCs, thin clients, and Android/iOS mobile devices from any cloud, on-premises datacenter, or both.

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