Cisco Systems (NASDAQ:CSCO) Updates FY 2022 Earnings Guidance

Cisco Systems (NASDAQ:CSCO) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.380-$3.450 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.420. The company issued revenue guidance of $52.31 billion-$53.31 billion, compared to the consensus revenue estimate of $52.87 billion.Cisco Systems also updated its Q2 2022 guidance to $0.800-$0.820 EPS.

Shares of NASDAQ:CSCO traded up $0.24 during trading on Thursday, hitting $55.54. 19,324,937 shares of the stock were exchanged, compared to its average volume of 18,948,041. Cisco Systems has a 1-year low of $42.21 and a 1-year high of $60.27. The company has a market capitalization of $234.25 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.92. The company’s fifty day simple moving average is $55.81 and its 200-day simple moving average is $55.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 1.62.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, November 16th. The network equipment provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Cisco Systems had a return on equity of 30.59% and a net margin of 22.44%. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the firm earned $0.68 EPS. Cisco Systems’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Cisco Systems will post 3.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 27th. Stockholders of record on Tuesday, October 5th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Monday, October 4th. Cisco Systems’s payout ratio is presently 55.02%.

Several analysts recently commented on the company. JPMorgan Chase & Co. set a $70.00 price target on Cisco Systems in a research note on Thursday, September 16th. The Goldman Sachs Group set a $64.00 price target on Cisco Systems in a research note on Thursday, September 16th. Westpark Capital assumed coverage on Cisco Systems in a research note on Friday, September 24th. They issued a hold rating and a $62.00 price target on the stock. Barclays boosted their price target on Cisco Systems from $55.00 to $62.00 and gave the company an overweight rating in a research note on Thursday, August 19th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $55.00 to $59.00 and gave the company a hold rating in a research note on Tuesday, August 24th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $62.24.

In other news, SVP Prat Bhatt sold 12,722 shares of the business’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $54.80, for a total transaction of $697,165.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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