Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Declares Quarterly Cash Dividend

[Marketwired] – Cisco announced that earlier today its Board of Directors declared a quarterly dividend of $0.26 per common share to be paid on July 27, 2016 to all shareholders of record as of the close of business on … Read more on this. Cisco Systems, Inc. (CSCO) , valued at $146.36B, started the session at $29.07. During the trading session, CSCO traded between $29.06 to $29.41 and has traded between $22.46 and $29.49 over the past 12 months. 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 forward p/e ratio. And for dividend hunters, the company pays shareholders $1.04 per share annually in dividends, yielding 3.57%. In a review of the consensus earnings estimate this quarter, 33 sell-side analysts are looking at $0.60 per share, which would be $0.01 better than the year-ago quarter and a $0.02 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $2.33, which would be a $0.12 better when compared to the last 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. Recently, 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 by the analysts covering it is $30.86, which is 6.16% above where the stock opened. 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