Equities analysts forecast that Brocade Communications Systems, Inc. (NASDAQ:BRCD) will post sales of $578.19 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Brocade Communications Systems’ earnings, with the lowest sales estimate coming in at $571.00 million and the highest estimate coming in at $585.37 million. Brocade Communications Systems posted sales of $657.30 million during the same quarter last year, which would indicate a negative year over year growth rate of 12%. The firm is scheduled to issue its next earnings results on Monday, November 20th.

According to Zacks, analysts expect that Brocade Communications Systems will report full-year sales of $578.19 million for the current year, with estimates ranging from $2.25 billion to $2.27 billion. For the next financial year, analysts forecast that the business will report sales of $2.10 billion per share. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Brocade Communications Systems.

Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.12. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The firm had revenue of $549.00 million for the quarter, compared to the consensus estimate of $614.10 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis.

BRCD has been the topic of a number of analyst reports. Robert W. Baird set a $13.00 price objective on Brocade Communications Systems and gave the company a “hold” rating in a research report on Thursday, August 17th. BidaskClub raised Brocade Communications Systems from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Royal Bank Of Canada reissued a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, June 9th. Zacks Investment Research raised Brocade Communications Systems from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, May 31st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, May 26th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Brocade Communications Systems presently has an average rating of “Hold” and an average price target of $12.32.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRCD. Cowen Inc. increased its position in shares of Brocade Communications Systems by 73.2% during the 2nd quarter. Cowen Inc. now owns 11,363,178 shares of the technology company’s stock valued at $143,290,000 after purchasing an additional 4,803,042 shares during the last quarter. Pentwater Capital Management LP bought a new position in shares of Brocade Communications Systems during the 1st quarter valued at approximately $59,405,000. Cowen Group Inc. increased its position in shares of Brocade Communications Systems by 129.5% during the 1st quarter. Cowen Group Inc. now owns 6,560,136 shares of the technology company’s stock valued at $81,870,000 after purchasing an additional 3,701,370 shares during the last quarter. Tyrus Capital S.A.M. bought a new position in shares of Brocade Communications Systems during the 2nd quarter valued at approximately $35,308,000. Finally, Vanguard Group Inc. increased its position in shares of Brocade Communications Systems by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 34,196,852 shares of the technology company’s stock valued at $426,777,000 after purchasing an additional 2,065,687 shares during the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Brocade Communications Systems (NASDAQ BRCD) opened at 12.14 on Thursday. The stock has a 50 day moving average of $12.28 and a 200-day moving average of $12.50. Brocade Communications Systems has a one year low of $8.64 and a one year high of $12.72. The stock has a market capitalization of $5.02 billion, a P/E ratio of 170.99 and a beta of 0.64.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be issued 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 1.81%. Brocade Communications Systems’s dividend payout ratio (DPR) is 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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