Here's What to Expect When Cisco (CSCO) Releases Earnings Wednesday

NEW YORK (TheStreet) -- Shares of Cisco Systems Inc  (CSCO) are trading up 0.34% to $29.31 in afternoon trading Tuesday, one day ahead of the company's fiscal third quarter earnings release after the market closes Wednesday.

Cisco is expected to earn 53 cents per share on $12.06 billion for the quarter, according to analysts polled by Thomson Reuters.

The report marks long-time Cisco CEO John Chambers' last, before stepping down on July 26.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio says, "This is a stock that you'd want to own that is inexpensive."

"It's a technology play that has figured out the Internet-of-Things better than any other company," Cramer added.

On Monday morning, analysts at Pacific Crest Securities upgraded Cisco to "overweight" from"sector weight" with a $36 price target.

The firm noted that Cisco's April quarter could mark "the beginning of a multi-quarter recovery."

Cisco designs, manufactures, and sells Internet protocol-based networking and other products related to the communications and information technology industry.

The company also has a line of products for transporting data, voice, and video around the world, operating in the Americas, Europe, Middle East, Africa, Asia Pacific, Japan, and China. It is based in San Jose, Calif.

Insight from TheStreet's Research Team:

Cisco is a core holding of Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. During the most recent weekly roundup, this is what Jim Cramer, Portfolio Manager and Jack Mohr, Director of Research - Action Alerts PLUS had to say about the stock:

Cisco Systems (CSCO:Nasdaq; $29.23; 2,750 shares; 3.08%; Sector: Technology): The shares traded up slightly this week on little news. Cisco is expected to report third-quarter fiscal 2015 earnings on Wednesday, May 13, after the close. We are positive heading into the quarterly results and believe several of Cisco's key businesses are building momentum, which could potentially lead to a slight beat and raise.

We expect the enterprise and commercial verticals to drive results, with strength in data center, switching, wireless and services. With Chuck Robbins about to take reins from long-term CEO John Chambers, we expect little change in the strategy, which has been working. Our target is $33.

- Jim Cramer and Jack Mohr, 'Weekly Roundup' originally published 5/8/2015 on ActionAlertsPLUS.com.

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Separately, TheStreet Ratings team rates CISCO SYSTEMS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate CISCO SYSTEMS INC (CSCO) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

You can view the full analysis from the report here: CSCO Ratings Report

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