Wall Street analysts expect Brocade Communications Systems, Inc. (NASDAQ:BRCD) to announce $598.39 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Brocade Communications Systems’ earnings, with the highest sales estimate coming in at $656.12 million and the lowest estimate coming in at $545.88 million. Brocade Communications Systems posted sales of $590.72 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.3%. The company is scheduled to report its next earnings results on Thursday, August 24th.

According to Zacks, analysts expect that Brocade Communications Systems will report full-year sales of $598.39 million for the current financial year, with estimates ranging from $2.28 billion to $2.59 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.40 billion per share, with estimates ranging from $2.25 billion to $2.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Brocade Communications Systems.

Brocade Communications Systems (NASDAQ:BRCD) last issued its earnings results on Thursday, May 25th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.09. The business had revenue of $552.80 million for the quarter, compared to analyst estimates of $602.92 million. Brocade Communications Systems had a net margin of 2.54% and a return on equity of 8.49%. Brocade Communications Systems’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share.

Several equities research analysts have recently commented on BRCD shares. BidaskClub raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Thursday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a research report on Friday, June 9th. Zacks Investment Research raised shares of Brocade Communications Systems from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Wednesday, May 31st. Wunderlich reaffirmed a “sell” rating on shares of Brocade Communications Systems in a research report on Thursday, March 30th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a research report on Friday, May 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $11.35.

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In related news, SVP Ken Cheng sold 68,488 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $12.62, for a total transaction of $864,318.56. Following the completion of the sale, the senior vice president now directly owns 452,338 shares in the company, valued at $5,708,505.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ellen Odonnell sold 7,811 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $12.64, for a total value of $98,731.04. Following the sale, the senior vice president now owns 19,037 shares of the company’s stock, valued at $240,627.68. The disclosure for this sale can be found here. Insiders have sold 276,299 shares of company stock valued at $3,487,050 over the last quarter. 1.77% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its position in Brocade Communications Systems by 27.4% in the first quarter. Creative Planning now owns 11,743 shares of the technology company’s stock worth $147,000 after buying an additional 2,524 shares during the period. PNC Financial Services Group Inc. raised its position in Brocade Communications Systems by 13.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock worth $148,000 after buying an additional 1,430 shares during the period. Stephens Inc. AR raised its position in Brocade Communications Systems by 17.6% in the first quarter. Stephens Inc. AR now owns 11,960 shares of the technology company’s stock worth $149,000 after buying an additional 1,792 shares during the period. Bank of Montreal Can raised its position in Brocade Communications Systems by 14.0% in the first quarter. Bank of Montreal Can now owns 13,240 shares of the technology company’s stock worth $166,000 after buying an additional 1,629 shares during the period. Finally, Cigna Investments Inc. New bought a new position in Brocade Communications Systems during the fourth quarter worth $178,000. 81.72% of the stock is currently owned by institutional investors.

Brocade Communications Systems (BRCD) opened at 12.61 on Friday. The company’s 50-day moving average is $12.64 and its 200 day moving average is $12.50. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 86.37 and a beta of 0.68. Brocade Communications Systems has a 52 week low of $8.64 and a 52 week high of $12.69.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 12th will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, June 8th. Brocade Communications Systems’s payout ratio is 157.14%.

Brocade Communications Systems Company Profile

Brocade Communications Systems, Inc (Brocade) is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions and Internet protocol (IP) networking solutions for businesses and organizations of various types and sizes. The Company operates through three segments: SAN Products, IP Networking Products and Global Services.

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