Brocade Communications Systems, Inc. (BRCD) Given Consensus Rating of “Hold” by Analysts
Brocade Communications Systems, Inc. (NASDAQ:BRCD) has been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and twelve have issued a hold recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $12.06.
Several equities research analysts have recently commented on the stock. Stifel Nicolaus restated a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, May 26th. Zacks Investment Research lowered shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub lowered shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Robert W. Baird restated a “hold” rating on shares of Brocade Communications Systems in a report on Friday, August 25th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, June 9th.
In related news, SVP Ellen Odonnell sold 7,811 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $12.64, for a total transaction of $98,731.04. Following the completion of the transaction, the senior vice president now owns 19,037 shares in the company, valued at approximately $240,627.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.77% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new position in shares of Brocade Communications Systems during the 1st quarter worth approximately $824,000. Havens Advisors LLC raised its stake in shares of Brocade Communications Systems by 34.0% during the 2nd quarter. Havens Advisors LLC now owns 560,000 shares of the technology company’s stock worth $7,062,000 after acquiring an additional 142,000 shares in the last quarter. Brookstone Capital Management bought a new position in shares of Brocade Communications Systems during the 2nd quarter worth approximately $279,000. Visionary Asset Management Inc. bought a new position in shares of Brocade Communications Systems during the 2nd quarter worth approximately $324,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Brocade Communications Systems during the 2nd quarter worth approximately $177,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.
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Shares of Brocade Communications Systems (NASDAQ:BRCD) traded up 0.04% during trading on Friday, hitting $12.31. 2,329,850 shares of the company’s stock were exchanged. Brocade Communications Systems has a one year low of $8.64 and a one year high of $12.72. The stock has a market cap of $5.09 billion, a P/E ratio of 173.38 and a beta of 0.64. The firm has a 50-day moving average price of $12.36 and a 200-day moving average price of $12.50.
Brocade Communications Systems (NASDAQ:BRCD) last released its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.12. The company had revenue of $549 million during the quarter, compared to analysts’ expectations of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. Equities research analysts expect that Brocade Communications Systems will post $0.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.22 annualized dividend and a dividend yield of 1.79%. Brocade Communications Systems’s dividend payout ratio (DPR) is presently 314.29%.
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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