Cisco Systems Downgraded to “Hold” at Standpoint Research (CSCO)

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Cisco Systems (NASDAQ:CSCO) was downgraded by stock analysts at Standpoint Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, AmericanBankingNews.com reports.

Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.24% on Tuesday, hitting $23.455. The stock had a trading volume of 6,630,451 shares. Cisco Systems has a 52-week low of $20.22 and a 52-week high of $26.49. The stock has a 50-day moving average of $22.26 and a 200-day moving average of $22.17. The company has a market cap of $120.8 billion and a P/E ratio of 15.38.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.01. The company had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $1.99 earnings per share for the current fiscal year.

CSCO has been the subject of a number of other recent research reports. Analysts at SunTrust initiated coverage on shares of Cisco Systems in a research note on Thursday, April 10th. They set a “buy” rating and a $27.00 price target on the stock. Separately, analysts at Wunderlich downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. They now have a $24.00 price target on the stock, down previously from $25.00. Finally, analysts at Northland Capital Mkts initiated coverage on shares of Cisco Systems in a research note on Friday, April 4th. They set an “outperform” rating and a $28.00 price target on the stock. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.29.

Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.

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