Brocade Communications Systems (BRCD) Set to Announce Earnings on Thursday
Brocade Communications Systems (NASDAQ:BRCD) will release its Q314 earnings data on Thursday, August 21st. Analysts expect Brocade Communications Systems to post earnings of $0.19 per share and revenue of $534.71 million for the quarter.
Brocade Communications Systems (NASDAQ:BRCD) opened at 9.37 on Wednesday. Brocade Communications Systems has a 52 week low of $7.29 and a 52 week high of $10.96. The stock’s 50-day moving average is $9.25 and its 200-day moving average is $9.39. The company has a market cap of $4.012 billion and a price-to-earnings ratio of 17.08.
A number of research firms have recently commented on BRCD. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Brocade Communications Systems in a research note on Friday, May 23rd. They now have a $7.50 price target on the stock, down previously from $8.00. Analysts at Goldman Sachs raised their price target on shares of Brocade Communications Systems from $8.00 to $8.50 in a research note on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.52.
In other Brocade Communications Systems news, CEO Lloyd Carney sold 6,445 shares of Brocade Communications Systems stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $9.25, for a total value of $59,616.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Brocade Communications Systems, Inc (NASDAQ:BRCD) is a supplier of networking equipment, including end-to-end Internet Protocol (IP)-based Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes, including global enterprises, and service providers, such as telecommunication firms, cable operators and mobile carriers.