Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – IBM And Cisco Partner To Bring Watson To The ‘Internet Of Things’

[at Forbes] – IBM Watson and its business analytic software will now be able to run on Cisco’s gateway gear. No internet connection necessary. Read more on this. Cisco Systems, Inc. (CSCO) , with a current value of $146.44B, opened this morning at $28.98. Looking at the stock, its one day range is $28.92 to $29.12 with its 52-week range being $22.46 to $29.49. CSCO shares are currently priced at 12.40x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -4.54x earnings multiple. 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 $0.02 sequential increase. What we find to be interesting is that the full-year EPS estimate of $2.33 is a $0.12 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.58 Billion. If reported, that would be a 2.02% 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 $30.86, which is 6.49% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Rises, William Blair Applauds Apple Partnership Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Price Target Lowered at Pacific Crest Company Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Rises After Winning U.S. Patent Dispute