Market Update (NASDAQ:CSCO): IBM And Cisco Tap IBM Watson Power And Cisco Spark To Transform The Way People Work

[Benzinga] – International Business Machines Corp. (NYSE: IBM ) and Cisco Systems, Inc. (NASDAQ: CSCO ) disclosed that would align to integrate the strengths of each company to transform how knowledge-workers collaborate … Read more on this. Cisco Systems, Inc. (CSCO) , with a current market cap of $144.30B, started trading this morning at $28.38. Shares have traded today between $28.07 and $28.69 per share with a one year range of $22.46 to $29.49. CSCO shares are currently priced at 12.13x 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 those looking to make a return holding the stock, the company pays shareholders $1.04 per share annually in dividends, yielding 3.75%. 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. The full-year EPS estimate is $2.33, which would be a $0.12 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.57 Billion. If reported, that would be a 2.10% 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 8.60% above than it opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco and IBM Team Up on IoT Services Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – IBM And Cisco Partner To Bring Watson To The ‘Internet Of Things’ Market Update (NASDAQ:CSCO): Dimension Data and Cisco Announce Project to Protect Rhino by Tracking People