Brocade Communications Systems Given Consensus Recommendation of “Hold” by Analysts (NASDAQ:BRCD)
Shares of Brocade Communications Systems (NASDAQ:BRCD) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are presently covering the company, StockRatingsNetwork.com reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.52.
In other Brocade Communications Systems news, CEO Lloyd Carney unloaded 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 transaction of $59,616.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Brocade Communications Systems (NASDAQ:BRCD) traded up 3.61% during mid-day trading on Friday, hitting $9.75. 3,801,291 shares of the company’s stock traded hands. Brocade Communications Systems has a 52 week low of $7.29 and a 52 week high of $10.96. The stock has a 50-day moving average of $9.24 and a 200-day moving average of $9.39. The company has a market cap of $4.175 billion and a P/E ratio of 17.30.
Brocade Communications Systems (NASDAQ:BRCD) last released its earnings data on Thursday, August 21st. The company reported $0.23 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.19 earnings per share. Brocade Communications Systems’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Brocade Communications Systems will post $0.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 2nd. Investors of record on Wednesday, September 10th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.49%.
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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