Investment analysts at FBR Capital (NASDAQ: FBCM) cut their target price on shares of Cisco Systems (NASDAQ: CSCO) from $22.50 to $20.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock.
Cisco Systems opened at 16.6901 on Thursday. Cisco Systems has a 52-week low of $13.30 and a 52-week high of $21.30. The company has a market cap of $89.926 billion and a price-to-earnings ratio of 12.38.
Cisco Systems last posted its quarterly earnings results on Wednesday, May 9th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.47 by $0.01. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Analysts expect that Cisco Systems will post $0.46 EPS next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Mizuho cut their price target on shares of Cisco Systems from $24.00 to $20.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Barclays Capital (NYSE: BCS) reiterated an “equalweight” rating on shares of Cisco Systems in a research note to investors on Monday. Finally, analysts at Nomura (NYSE: NMR) reiterated a “buy” rating on shares of Cisco Systems in a research note to investors on Monday.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.