Market Update (NASDAQ:CSCO): One of Cisco’s star engineers defends the unusual way Cisco paid him

[Business Insider] – There’s still a lot of rumor and speculation as to what exactly went down between Cisco CEO… Read more on this. Cisco Systems, Inc. (CSCO) , valued at $145.11B, started trading this morning at $28.97. Looking at the equity, the company’s one day range is $28.73 to $29.00 and has traded between $22.46 and $29.49 over the past 12 months. CSCO shares are currently priced at 12.36x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.21x forward p/e ratio. And for dividend hunters, the company pays shareholders $1.04 per share annually in dividends, yielding 3.59%. Consensus earnings for the current quarter by the 33 sell-side analysts covering the stock is an estimate of $0.60 per share, which would be $0.01 better than the year-ago quarter and a $0.02 sequential increase. Investors should also note 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 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, Goldman downgraded CSCO from Buy to Neutral (Jun 15, 2016). Previously, JP Morgan upgraded CSCO from Underweight to Neutral. Given all the information above, we should disclose to readers that the average price target is $30.82, which is 6.39% above than it 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) – Analyzing Cisco’s Return on Equity (ROE) (CSCO) Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Price Target Lowered at Pacific Crest