Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Calls Arista Antitrust Suit ‘Bogus’

[at Barrons.com] – Following the announcement a short while ago of an antitrust suit by networker Arista Networks (ANET) against its chief rival, Cisco Systems (CSCO), the latter has issued a statement, saying Arista is trying to distract attention from a pending decision on Wednesday in a patent and copyright infringement suit brought by Cisco against Arista. Says Cisco’s general counsel, Mark Chandler, Arista’s filing of bogus antitrust claims today is not accidental or a coincidence. Read more on this. Cisco Systems, Inc. (CSCO) , with a current value of $117.61B, opened this morning at $23.36. During the trading session, CSCO traded between $23.14 to $23.51 with its 52-week range being $22.47 to $30.31. Priced at 10.30x this year’s forecasted earnings, CSCO shares are relatively inexpensive compared to the industry ’s 11.27x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.84 per share annually in dividends, yielding 3.59%. In a review of the consensus earnings estimate this quarter, 35 sell-side analysts are looking at $0.54 per share, which would be $0.01 better than the year-ago quarter and a $0.02 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.27 is a $0.06 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.76 Billion. If reported, that would be a 1.51% decrease over the year-ago quarter. More recently, Drexel Hamilton Initiated CSCO at Buy (Oct 9, 2015). Previously, Citigroup Initiated CSCO at to Buy. The average price target for CSCO shares by the analysts covering it is $30.75, which is 31.64% above where the stock opened. See more in (NASDAQ:CSCO) Similar Articles: Market Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco Systems (CSCO) Stock Price Target Lowered at Pacific Crest Company Update (NASDAQ:CSCO): Arista: Don’t Fear Cisco Lawsuit, Says Oppenheimer Stock Update: Cisco Systems Inc (NASDAQ:CSCO) – Cisco CEO Robbins Dishes on Arista, Trumpets ‘Solid, Positive Growth’ Outlook