Tech heavyweight Cisco (CSCO Quick QuoteCSCO - Free Report) is set to report fiscal third-quarter results on Wednesday after the bell. Cisco, a Zacks Rank #3 (Hold), boasts a stellar track record of exceeding earnings estimates. With CSCO stock climbing back into the green on the year, is the networking giant a buy heading into earnings?

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Analysts are expecting CSCO to deliver quarterly earnings of $0.91 per share, which would reflect growth of 3.4% relative to the same quarter in the prior year. Projected revenues of $14.05 billion would mark a 10.6% improvement versus the year-ago period. Cisco has beaten earnings estimates in each of the past four quarters, sporting a 4.1% average earnings surprise over that timeframe.

Cisco’s business has evolved with subscription revenues accounting for more than half of total revenues. The company remains the largest player in the networking space. Cisco has inked strategic alliances with most major technology companies globally.

As always, investors should remain cautious ahead of earnings as stocks can be volatile. Our proprietary Earnings ESP indicator conclusively predicts another beat for Wednesday’s announcement.