Brocade Communications Systems, Inc. Announces Quarterly Dividend of $0.04 (BRCD)
Brocade Communications Systems (NASDAQ:BRCD) announced a quarterly dividend on Thursday, August 21st, AnalystRatings.Net reports. Investors of record on Wednesday, September 10th will be paid a dividend of 0.035 per share on Thursday, October 2nd. This represents a $0.14 annualized dividend and a dividend yield of 1.49%.
A number of analysts have recently weighed in on BRCD shares. 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $9.52.
Shares of Brocade Communications Systems (NASDAQ:BRCD) traded up 0.64% during mid-day trading on Thursday, hitting $9.41. 7,748,516 shares of the company’s stock traded hands. Brocade Communications Systems has a one year low of $7.29 and a one year high of $10.96. The stock has a 50-day moving average of $9.25 and a 200-day moving average of $9.39. The company has a market cap of $4.029 billion and a P/E ratio of 17.19.
Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.04. The company had revenue of $545.00 million for the quarter, compared to the consensus estimate of $534.71 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Analysts expect that Brocade Communications Systems will post $0.84 EPS for the current fiscal year.
In other Brocade Communications Systems news, CEO Lloyd Carney sold 6,445 shares of Brocade Communications Systems stock on the open market in a transaction dated 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 document filed with the SEC, which can be accessed through 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.
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