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Cisco Systems (CSCO) Stock Dips While Market Gains: Key Facts
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Cisco Systems (CSCO - Free Report) ended the recent trading session at $47.98, demonstrating a -0.55% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow experienced a rise of 0.41%, and the technology-dominated Nasdaq saw an increase of 0.12%.
Prior to today's trading, shares of the seller of routers, switches, software and services had lost 2.09% over the past month. This has lagged the Computer and Technology sector's loss of 0.55% and the S&P 500's loss of 0.9% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Cisco Systems in its upcoming earnings disclosure. The company's earnings report is set to go public on May 15, 2024. It is anticipated that the company will report an EPS of $0.84, marking a 16% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $12.36 billion, down 15.19% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.69 per share and a revenue of $52.74 billion, indicating changes of -5.14% and -7.47%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Cisco Systems. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.84% rise in the Zacks Consensus EPS estimate. Cisco Systems currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Cisco Systems is holding a Forward P/E ratio of 13.06. This indicates a discount in contrast to its industry's Forward P/E of 14.12.
It is also worth noting that CSCO currently has a PEG ratio of 2.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Computer - Networking industry stood at 1.12 at the close of the market yesterday.
The Computer - Networking industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Cisco Systems (CSCO) Stock Dips While Market Gains: Key Facts
Cisco Systems (CSCO - Free Report) ended the recent trading session at $47.98, demonstrating a -0.55% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow experienced a rise of 0.41%, and the technology-dominated Nasdaq saw an increase of 0.12%.
Prior to today's trading, shares of the seller of routers, switches, software and services had lost 2.09% over the past month. This has lagged the Computer and Technology sector's loss of 0.55% and the S&P 500's loss of 0.9% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Cisco Systems in its upcoming earnings disclosure. The company's earnings report is set to go public on May 15, 2024. It is anticipated that the company will report an EPS of $0.84, marking a 16% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $12.36 billion, down 15.19% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.69 per share and a revenue of $52.74 billion, indicating changes of -5.14% and -7.47%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Cisco Systems. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.84% rise in the Zacks Consensus EPS estimate. Cisco Systems currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Cisco Systems is holding a Forward P/E ratio of 13.06. This indicates a discount in contrast to its industry's Forward P/E of 14.12.
It is also worth noting that CSCO currently has a PEG ratio of 2.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Computer - Networking industry stood at 1.12 at the close of the market yesterday.
The Computer - Networking industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.