Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Traders bet on gains in Cisco Systems

[optionMONSTER] – Investors are betting that Cisco Systems will rally in the next month. optionMONSTER’s tracking program detected the purchase of more than 8,600 July 29.50 calls for $0.18 yesterday. This represents fresh … Read more on this. Cisco Systems, Inc. (CSCO) , valued at $145.96B, started the session at $28.87. During today’s session, CSCO traded between $28.80 to $29.08 with the price of the stock fluctuating between $22.46 to $29.49 over the last 52 weeks. CSCO shares are currently priced at 12.35x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.21x earnings multiple for the same period. And for income investors, the company pays shareholders $1.04 per share annually in dividends, yielding 3.59%. 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 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. More 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 6.75% 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) – 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