Brocade Communications Systems Receives Average Recommendation of “Hold” from Brokerages (NASDAQ:BRCD)
Shares of Brocade Communications Systems (NASDAQ:BRCD) have been given a consensus rating of “Hold” by the fifteen ratings firms that are covering the company, StockRatingsNetwork reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.56.
Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Brocade Communications Systems in a research note on Friday. They now have a $8.00 price target on the stock, up previously from $7.50.
Shares of Brocade Communications Systems (NASDAQ:BRCD) opened at 10.08 on Friday. Brocade Communications Systems has a one year low of $7.29 and a one year high of $10.96. The stock’s 50-day moving average is $9.27 and its 200-day moving average is $9.41. The company has a market cap of $4.316 billion and a P/E ratio of 17.90.
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 $0.89 earnings per share 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 1.39%.
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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