Company Update (NASDAQ:CSCO): Cisco invests $15 million in Israeli storage firm Elastifile

[Reuters] – JERUSALEM (Reuters) – Cisco Systems (CSCO.O) has invested $15 million (10.63 million pounds) in Israeli storage software start-up Elastifile, bringing total investment this year to $50 million, Elastifile … Read more on this. Cisco Systems, Inc. (CSCO) , with a current market cap of $145.66B, opened this morning at $28.66. During the trading session, CSCO traded between $28.63 to $29.00 with its 52-week range being $22.46 to $29.49. Priced at 12.38x this year’s forecasted earnings, CSCO shares are relatively expensive compared to the industry’s -5.38x forward p/e ratio. And for income investors, the company pays shareholders $1.04 per share annually in dividends, yielding 3.58%. 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. The full-year EPS estimate is $2.33, which would be a $0.12 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.58 Billion. If realized, 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. Given all the information above, we should disclose to readers that the average price target is $30.86, which is 7.68% above than it opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Company Update: Cisco Systems Inc (NASDAQ:CSCO) – Here’s One Reason Cisco (CSCO) Stock Is Down Today Company Update: Cisco Systems Inc (NASDAQ:CSCO) – Jim Cramer: Cisco (CSCO) Acquisition of Synata ‘Game Changing’ Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Transforms Storage and Delivery for Multiscreen Video