Market Update (NASDAQ:CSCO): Cisco’s stock gets a boost from J.P. Morgan upgrade

[at MarketWatch] – Cisco Systems Inc.’s stock jumped 1.2% in afternoon trade Wednesday, after J.P. Morgan analyst Rod Hall said he was no longer bearish, given limited downside risk and an attractive dividend yield. Hall … Read more on this. Cisco Systems, Inc. (CSCO) , valued at $140.62B, opened this morning at $27.75. A quick look at the market, the company’s stock traded between $27.64 and $27.97 with the price of the stock fluctuating between $22.46 to $29.90 over the last 52 weeks. CSCO shares are currently priced at 11.99x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 19.74x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $1.04 per share annually in dividends, yielding 3.62%. In a review of the consensus earnings estimate this quarter, 35 sell-side analysts are looking at $0.55 per share, which would be $0.01 better than the year-ago quarter and a $0.01 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.30, which would be a $0.09 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.98 Billion. If realized, that would be a 1.32% decrease over the year-ago quarter. More recently, JP Morgan upgraded CSCO from Underweight to Neutral (Apr 6, 2016). Previously, BofA/Merrill downgraded CSCO from Buy to Neutral. Investors should keep in mind is that the average price target is $28.78, which is 3.71% above where the stock opened this morning. See more in (NASDAQ:CSCO) Similar Articles: Market Update (NASDAQ:CSCO): Will Cisco Systems (CSCO) Stock Gain Today From RBC Capital’s Bullish Outlook? Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Rises, William Blair Applauds Apple Partnership Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Price Target Lowered at Pacific Crest