Cashtaggers Bullish on $CSCO Before Earnings
Cisco shares crept upward today in advance of its second fiscal quarter earnings announcement. The networking company is scheduled to report after-the-bell.
Investors expect $0.46 EPS on $11.18 Billion in revenues, according to Estimize.com’s consensus of 49 estimates. Wall Street consensus is roughly the same: $0.46 EPS on $11.04 Billion in sales.
Investors and analysts have become increasingly bullish on the stock in the past month. $CSCO has climbed 2.3% in the past 30 days. StockTwits sentiment analytics show about 91% of users are bullish ahead of earnings. Today, TheStreet and Sterne Agee reiterated their “buy” ratings, according to the Analyst Ratings Network.
Feb. 12 at 12:11 PM
But is the bullishness warranted? Cisco’s stock tumbled nearly 11% after executives warned economic conditions in emerging markets would drag down revenues in the second fiscal quarter by 8% to 10%. Its first fiscal quarter sales also fell short of analysts’ expectations for the same reason, according to the company.
Feb. 12 at 11:50 AM
Cisco never really recovered from the guidance related sell-off on Nov. 14. The stock is still down more than 5%. As a result, some investors believe expectations are still low enough to warrant a post-earnings pop.
Feb. 12 at 8:54 AM
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