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Cisco Systems (CSCO) Outpaces Stock Market Gains: What You Should Know
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The latest trading session saw Cisco Systems (CSCO - Free Report) ending at $53.29, denoting a +0.53% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.18% for the day. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq increased by 0.3%.
Shares of the seller of routers, switches, software and services witnessed a loss of 0.82% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.65% and the S&P 500's gain of 3.08%.
The investment community will be paying close attention to the earnings performance of Cisco Systems in its upcoming release. The company is slated to reveal its earnings on November 15, 2023. The company is forecasted to report an EPS of $1.03, showcasing a 19.77% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $14.61 billion, indicating a 7.17% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.05 per share and a revenue of $57.69 billion, representing changes of +4.11% and +1.21%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cisco Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.1% lower. Currently, Cisco Systems is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Cisco Systems is currently exchanging hands at a Forward P/E ratio of 13.1. This represents a premium compared to its industry's average Forward P/E of 10.87.
Also, we should mention that CSCO has a PEG ratio of 2.08. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Networking industry had an average PEG ratio of 0.64 as trading concluded yesterday.
The Computer - Networking industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Cisco Systems (CSCO) Outpaces Stock Market Gains: What You Should Know
The latest trading session saw Cisco Systems (CSCO - Free Report) ending at $53.29, denoting a +0.53% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.18% for the day. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq increased by 0.3%.
Shares of the seller of routers, switches, software and services witnessed a loss of 0.82% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.65% and the S&P 500's gain of 3.08%.
The investment community will be paying close attention to the earnings performance of Cisco Systems in its upcoming release. The company is slated to reveal its earnings on November 15, 2023. The company is forecasted to report an EPS of $1.03, showcasing a 19.77% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $14.61 billion, indicating a 7.17% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.05 per share and a revenue of $57.69 billion, representing changes of +4.11% and +1.21%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cisco Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.1% lower. Currently, Cisco Systems is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Cisco Systems is currently exchanging hands at a Forward P/E ratio of 13.1. This represents a premium compared to its industry's average Forward P/E of 10.87.
Also, we should mention that CSCO has a PEG ratio of 2.08. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Networking industry had an average PEG ratio of 0.64 as trading concluded yesterday.
The Computer - Networking industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.