$771.56 Million in Sales Expected for Citrix Systems, Inc. (NASDAQ:CTXS) This Quarter

Brokerages expect Citrix Systems, Inc. (NASDAQ:CTXS) to announce sales of $771.56 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Citrix Systems’ earnings, with the lowest sales estimate coming in at $768.60 million and the highest estimate coming in at $775.00 million. Citrix Systems posted sales of $742.37 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that Citrix Systems will report full-year sales of $3.09 billion for the current financial year, with estimates ranging from $3.07 billion to $3.11 billion. For the next fiscal year, analysts expect that the business will report sales of $3.23 billion, with estimates ranging from $3.18 billion to $3.31 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last posted its quarterly earnings data on Wednesday, April 24th. The cloud computing company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.41. The firm had revenue of $719.14 million for the quarter, compared to analysts’ expectations of $707.78 million. Citrix Systems had a net margin of 18.08% and a return on equity of 94.77%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS.

Several research firms have recently weighed in on CTXS. Deutsche Bank upgraded shares of Citrix Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $120.00 in a research report on Thursday, June 6th. Zacks Investment Research cut shares of Citrix Systems from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. ValuEngine lowered shares of Citrix Systems from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Wedbush reaffirmed a “hold” rating and set a $100.00 target price on shares of Citrix Systems in a report on Thursday, April 25th. Finally, BidaskClub raised shares of Citrix Systems from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $114.82.

In other Citrix Systems news, CEO David J. Henshall sold 4,298 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.00, for a total value of $434,098.00. Following the sale, the chief executive officer now owns 378,327 shares of the company’s stock, valued at approximately $38,211,027. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark J. Ferrer sold 1,388 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $99.93, for a total transaction of $138,702.84. Following the completion of the sale, the executive vice president now directly owns 56,830 shares in the company, valued at approximately $5,679,021.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,842 shares of company stock worth $1,957,137. 0.54% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in CTXS. Thor Advisors LLC purchased a new stake in shares of Citrix Systems in the 1st quarter worth about $67,000. Advisory Services Network LLC lifted its position in shares of Citrix Systems by 691.3% in the 1st quarter. Advisory Services Network LLC now owns 2,374 shares of the cloud computing company’s stock worth $237,000 after purchasing an additional 2,074 shares during the period. Nordea Investment Management AB lifted its position in shares of Citrix Systems by 694.1% in the 1st quarter. Nordea Investment Management AB now owns 1,220,537 shares of the cloud computing company’s stock worth $121,638,000 after purchasing an additional 1,066,829 shares during the period. Horizon Investments LLC lifted its position in shares of Citrix Systems by 8.1% in the 1st quarter. Horizon Investments LLC now owns 25,249 shares of the cloud computing company’s stock worth $2,516,000 after purchasing an additional 1,899 shares during the period. Finally, Kore Private Wealth LLC purchased a new stake in shares of Citrix Systems in the 1st quarter worth about $40,000. 97.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of Citrix Systems stock traded up $0.04 on Tuesday, hitting $96.79. 1,212,678 shares of the company traded hands, compared to its average volume of 1,529,927. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market cap of $12.74 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.73 and a beta of 1.00. Citrix Systems has a 12-month low of $93.12 and a 12-month high of $116.82.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, June 6th. Citrix Systems’s dividend payout ratio is currently 30.57%.

Citrix Systems Company Profile

Citrix Systems, Inc provides workspace, networking, and analytics solutions worldwide. The company offers workspace services, including Citrix Virtual Apps and Desktops, a cloud-enabled app and desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and Citrix Virtual Apps that allows Windows and Linux applications to be remotely delivered to Macs, PCs, thin clients, and Android/iOS mobile devices from any cloud, on-premises datacenter, or both.

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