Wall Street analysts expect Citrix Systems, Inc. (NASDAQ:CTXS) to post $723.07 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Citrix Systems’ earnings, with the highest sales estimate coming in at $731.03 million and the lowest estimate coming in at $720.00 million. Citrix Systems posted sales of $690.93 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The company is scheduled to report its next earnings report on Wednesday, October 24th.
On average, analysts expect that Citrix Systems will report full year sales of $2.95 billion for the current year, with estimates ranging from $2.94 billion to $2.98 billion. For the next year, analysts forecast that the firm will post sales of $3.06 billion per share, with estimates ranging from $3.00 billion to $3.21 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Citrix Systems.
Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, July 25th. The cloud computing company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.08. Citrix Systems had a return on equity of 64.77% and a net margin of 3.23%. The company had revenue of $742.36 million for the quarter, compared to the consensus estimate of $716.33 million. During the same period in the previous year, the business earned $103.00 EPS. Citrix Systems’s revenue for the quarter was up 7.1% compared to the same quarter last year.
Several research firms have issued reports on CTXS. BidaskClub upgraded Citrix Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Stifel Nicolaus lifted their price objective on Citrix Systems from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Morgan Stanley lifted their price objective on Citrix Systems from $92.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, July 26th. Robert W. Baird restated a “hold” rating and set a $120.00 price objective on shares of Citrix Systems in a report on Thursday, July 26th. Finally, Cowen restated a “hold” rating and set a $120.00 price objective on shares of Citrix Systems in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $114.21.
CTXS stock traded down $1.33 during midday trading on Friday, hitting $110.96. 898,300 shares of the company’s stock were exchanged, compared to its average volume of 1,676,115. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.17. Citrix Systems has a 12-month low of $75.01 and a 12-month high of $116.82. The company has a market capitalization of $15.25 billion, a PE ratio of 26.87, a P/E/G ratio of 2.93 and a beta of 1.16.
In other news, CEO David J. Henshall sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $105.81, for a total value of $1,058,100.00. Following the completion of the sale, the chief executive officer now directly owns 344,236 shares in the company, valued at approximately $36,423,611.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Calderoni sold 2,128 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $110.20, for a total value of $234,505.60. Following the completion of the sale, the insider now owns 151,427 shares of the company’s stock, valued at $16,687,255.40. The disclosure for this sale can be found here. Insiders sold a total of 27,520 shares of company stock valued at $2,961,362 over the last quarter. Company insiders own 0.56% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP grew its stake in Citrix Systems by 3.3% during the 2nd quarter. First Trust Advisors LP now owns 2,811,923 shares of the cloud computing company’s stock worth $294,802,000 after buying an additional 90,456 shares during the last quarter. Farallon Capital Management LLC grew its stake in Citrix Systems by 4.2% during the 1st quarter. Farallon Capital Management LLC now owns 2,314,254 shares of the cloud computing company’s stock worth $214,763,000 after buying an additional 93,871 shares during the last quarter. Renaissance Technologies LLC grew its stake in Citrix Systems by 414.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,751,190 shares of the cloud computing company’s stock worth $183,595,000 after buying an additional 1,410,500 shares during the last quarter. Millennium Management LLC grew its stake in Citrix Systems by 154.3% during the 2nd quarter. Millennium Management LLC now owns 1,331,695 shares of the cloud computing company’s stock worth $139,615,000 after buying an additional 807,986 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Citrix Systems by 81.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 927,034 shares of the cloud computing company’s stock worth $97,191,000 after buying an additional 416,446 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.
About Citrix Systems
Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.
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