Wall Street is optimistic about Cisco Systems (CSCO), which is slated to report its fourth quarter results on Wednesday, August 15, 2012. Analysts project a profit of 41 cents a share, a rise from 35 cents per share a year ago.
Analysts are projecting earnings of $1.63 per share for the fiscal year. Revenue is projected to eclipse the year-earlier total of $11.2 billion by 3.8%, finishing at $11.62 billion for the quarter. For the year, revenue is expected to come in at $45.98 billion.
The company has seen steady earnings for the last eight quarters, and for the last four, net income has increased year-over-year by an average of 4.8%. The company saw the biggest boost in the second quarter, in which it saw a 43.5% growth.
The majority of analysts (56.7%) rate Cisco as a buy. This compares favorably to the analyst ratings of its nearest 10 competitors, which average 39.9% buys. Analysts have become more optimistic about the stock recently and the number of buy ratings has risen slightly over the past three months. The stock price has increased from $16.70 on May 14, 2012 to $17.70 over the past quarter.
Earnings estimates provided by Zacks.
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