46.35 0.00 (0.00%)
After hours: 5:24PM EST
|Bid||46.49 x 1000|
|Ask||46.55 x 900|
|Day's range||46.13 - 47.04|
|52-week range||35.81 - 49.47|
|Beta (3Y monthly)||1.12|
|PE ratio (TTM)||2,317.50|
|Earnings date||12 Feb 2019 - 18 Feb 2019|
|Forward dividend & yield||1.32 (2.89%)|
|1y target est||51.44|
Cisco (CSCO) announced its results for the first quarter of fiscal 2019, which ended in October 2018, on Wednesday, November 14. The stock rose 5% in after-hours trading on Wednesday, as the tech giant beat earnings and revenue estimates. Cisco generated Q1 revenues of $13.07 billion, an increase of 7.7% YoY. This rise represented the fourth consecutive quarter of YoY revenue growth, following eight consecutive quarters of decline. Wall Street was expecting revenue of $12.87 billion.
Of the 29 analysts covering Cisco Systems (CSCO), 20 have recommended the stock with a “buy” rating while nine have rated the stock a “hold.” None of the analysts have a “sell” rating on the stock. Cisco was trading at $44.33 as of November 14, a 14.75% discount to its consensus median target estimate. Cisco reported better-than-expected first-quarter numbers on November 14 after the market bell.
Cisco (CSCO) ended the first quarter of fiscal 2019 with an operating cash flow of $3.8 billion, which includes the receipt of $0.4 billion relating to a litigation settlement with Arista Networks. Cash flow from operations increased 22% year-over-year in the quarter. Cash and cash equivalents were $8.4 billion at the end of October 2018, compared with $8.9 billion at the end of July 2018. The company’s long-term debt fell to $18.3 billion at the end of October 27 from $20.3 billion at the end of July 28.
Bulls came out on top after another volatile session for the key indexes in the stock market today. The Nasdaq led as hard-hit tech stocks rebounded.
Dow Jones stocks Cisco Systems and JPMorgan rose, Boeing dived on Thursday, as the S&P 500 threatened to add a sixth day to its losing streak.
Stock futures: Cisco, Walmart and NetApp moved on earnings. Warren Buffett, via Berkshire Hathaway, bought Oracle and JPMorgan stock in Q3. Apple was still active.
With the Nasdaq back to 12% off its high, the bulls and bears alike have their reasons for their opposite stances.
The major indexes were squarely lower in morning trade Thursday. Cisco Systems and Walmart reported their quarterly earnings results.
Cisco Systems showed bullish action and has been outperforming fellow megacap tech Apple since October. Leading retailers cooled off.
The Nasdaq reversed a 0.9% intraday loss and was up 1.7% in late trading. In stock market news, Applied Materials and Micron outperformed in the Nasdaq 100.
Cisco Systems (CSCO) posted better-than-expected revenues in the first quarter of fiscal 2019, which it reported on November 14 after the market bell. First-quarter revenues of $13.07 billion exceeded analysts’ expectation of $12.86 billion by 1.6% and surpassed the company’s revenue expectation of $12.74 billion–$12.99 billion. Cisco’s revenues increased 7.7% year-over-year from $12.14 billion a year ago.
Cisco Systems (CSCO) stock soared 5.23% in after-hours trading on November 14 after the tech giant reported favorable results in the first quarter of fiscal 2019, which ended October 27. Cisco also forecasts strong second-quarter revenues, beating Wall Street expectations and fueling the stock price. Cisco stock has gained 19.3% year-to-date, but it has declined 8.3% since the beginning of October as of November 14 due to global worries that led to a significant sell-off in the tech sector.
Strength witnessed in Cisco's (CSCO) Security and Applications segments is a key positive. Order strength and improving traction of the subscription-based model were other tailwinds.
Analysts predicted 72 cents, according to estimates compiled by Bloomberg. Chief Executive Officer Chuck Robbins has returned the largest maker of networking gear to growth by updating its main hardware products and buying companies to push further into software and services. Cisco has also benefited from a spending spree by corporations on their infrastructure.
Cisco (CSCO) delivered earnings and revenue surprises of 4.17% and 1.56%, respectively, for the quarter ended October 2018. Do the numbers hold clues to what lies ahead for the stock?