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Given A -5.61% Drop From High, Can Cisco Systems Inc. (NASDAQ: CSCO) Quickly Recover?

During the recent session, Cisco Systems Inc. (NASDAQ:CSCO)’s traded shares were 5.76 million, with the beta value of the company hitting 0.98. At the last check today, the stock’s price was $49.77, reflecting an intraday gain of 1.51% or $0.74. The 52-week high for the CSCO share is $52.56, that puts it down -5.61 from that peak though still a striking 22.44% gain since the share price plummeted to a 52-week low of $38.60. The company’s market capitalization is $197.02B, and the average intraday trading volume over the past 10 days was 21.66 million shares, and the average trade volume was 18.51 million shares over the past three months.

Cisco Systems Inc. (CSCO) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. CSCO has a Sell rating from 0 analyst(s) out of 25 analysts who have looked at this stock. 14 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.06.

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Cisco Systems Inc. (NASDAQ:CSCO) trade information

Cisco Systems Inc. (CSCO) registered a 1.51% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.51% in intraday trading to $49.77 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 1.30%, and it has moved by 6.89% in 30 days. Based on these gigs, the overall price performance for the year is 13.11%. The short interest in Cisco Systems Inc. (NASDAQ:CSCO) is 50.43 million shares and it means that shorts have 2.82 day(s) to cover.

The consensus price target of analysts on Wall Street is $56.06, which implies an increase of 11.22% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $51.00 and $65.00 respectively. As a result, CSCO is trading at a discount of -30.6% off the target high and -2.47% off the low.

Cisco Systems Inc. (CSCO) estimates and forecasts

Statistics show that Cisco Systems Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Cisco Systems Inc. (CSCO) shares have gone up 2.47% during the last six months, with a year-to-date growth rate more than the industry average at 11.90% against 8.10. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 27.70% this quarter and then jump 15.10% in the quarter after that. In the rating firms’ projections, revenue will increase 10.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $15.05 billion as predicted by 17 analyst(s). Meanwhile, a consensus of 17 analyst(s) estimates revenue growth to $14.59 billion by the end of Oct 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $13.1 billion and $13.31 billion respectively. In this case, analysts expect current quarter sales to grow by 14.90% and then jump by 9.60% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 8.20%. While earnings are projected to return 12.70% in 2023, the next five years will return 7.39% per annum.

CSCO Dividends

Cisco Systems Inc. is due to release its next quarterly earnings between August 15 and August 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Cisco Systems Inc. is 1.56, with the dividend yield indicating at 3.18 percent, continuing the trend of increasing dividends in recent years.

Cisco Systems Inc. (NASDAQ:CSCO)’s Major holders

Cisco Systems Inc. insiders own 0.08% of total outstanding shares while institutional holders control 76.57%, with the float percentage being 76.63%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 3,790 institutions own stock in it. As of Mar 30, 2023, the company held over 381.6 million shares (or 9.32% of all shares), a total value of $19.95 billion in shares.

The next largest institutional holding, with 341.64 million shares, is of Blackrock Inc.’s that is approximately 8.34% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $17.86 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Cisco Systems Inc. (CSCO) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 112.4 million shares. This amounts to just over 2.74 percent of the company’s overall shares, with a $5.35 billion market value. The same data shows that the other fund manager holds slightly less at 94.92 million, or about 2.32% of the stock, which is worth about $4.52 billion.

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