Market Update (NASDAQ:CSCO): Cisco stock upgraded ahead of earnings

[at MarketWatch] – Cisco Systems Inc. was upgraded to neutral from sell at Macquarie Research on Monday ahead of the company’s quarterly earnings results on Wednesday. While the bank said it still has long-term fundamental … Read more on this. Cisco Systems, Inc. (CSCO) , valued at $115.72B, opened at $22.65. A quick look at the market, the company’s stock traded between $22.52 and $22.85 with its 52-week range being $22.47 to $30.31. Priced at 10.08x this year’s forecasted earnings, CSCO shares are relatively inexpensive compared to the industry ’s 13.33x forward p/e ratio. And for passive income investors, the company pays shareholders $0.84 per share annually in dividends, yielding 3.67%. Consensus earnings for the current quarter by the 34 sell-side analysts covering the stock is an estimate of $0.54 per share, which would be $0.01 better than the year-ago quarter and a $0.02 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $2.27 would be a $0.06 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.76 Billion. If reported, that would be a 1.51% decrease over the year-ago quarter. More recently, Drexel Hamilton Initiated CSCO at Buy (Oct 9, 2015). Previously, Citigroup Initiated CSCO at to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $30.40, which is 34.22% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Company Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Inches Ahead After Barclays Begins Coverage Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Will Cisco (CSCO) Stock Be Affected by Bigger Than Expected Router Attack? Market Update (NASDAQ:CSCO): Cisco Systems on the Cusp of Key Technical Moving Averages Ahead of Earnings