Stock Update (NASDAQ:CSCO): Arista shares slip as ITC says 3 of 5 Cisco patents infringed

[at MarketWatch] – Shares of Arista Networks Inc. declined in the extended session Thursday after the International Trade Commission issued a cease and desist order against the company concerning three Cisco Systems Inc. … Read more on this. Cisco Systems, Inc. (CSCO) , with a current value of $146.97B, began trading this morning at $29.03. During the trading session, CSCO traded between $28.96 to $29.23 with the price of the stock fluctuating between $22.46 to $29.49 over the last 52 weeks. Cisco (CSCO) shares are currently priced at 12.33x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.21x earnings multiple for the same period. The company pays shareholders $1.04 per share annually in dividends, yielding 3.61%. 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. What we find to be interesting is that the full-year EPS estimate of $2.33 is a $0.12 better 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. In terms of ratings, Goldman downgraded CSCO from Buy to Neutral (Jun 15, 2016). Previously, JP Morgan upgraded CSCO from Underweight to Neutral. With the above information in mind, readers should note that the average price target is $30.82, which is 6.17% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco’s Marginal Victory Over Arista Networks Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco ruling could lead to ban on Arista tech imports Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Calls Arista Antitrust Suit ‘Bogus’