Brocade Communications Systems, Inc. (NASDAQ:BRCD) has been given a consensus rating of “Hold” by the twenty research firms that are currently covering the stock. Two equities research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.25.
A number of brokerages recently issued reports on BRCD. Wunderlich reiterated a “sell” rating on shares of Brocade Communications Systems in a research note on Thursday, March 30th. Zacks Investment Research downgraded Brocade Communications Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, February 28th. Finally, TheStreet downgraded Brocade Communications Systems from a “b” rating to a “c” rating in a research note on Friday, February 24th.
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Shares of Brocade Communications Systems (NASDAQ:BRCD) traded down 0.24% on Monday, reaching $12.41. 4,948,380 shares of the company’s stock were exchanged. The firm has a market cap of $5.06 billion, a PE ratio of 45.46 and a beta of 0.88. The company has a 50 day moving average price of $12.43 and a 200 day moving average price of $11.78. Brocade Communications Systems has a one year low of $7.60 and a one year high of $12.55.
Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.10. The company had revenue of $581.46 million for the quarter, compared to the consensus estimate of $649.89 million. Brocade Communications Systems had a net margin of 9.12% and a return on equity of 13.41%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. Analysts expect that Brocade Communications Systems will post $0.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 4th. Investors of record on Friday, March 10th were issued a $0.055 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $0.22 dividend on an annualized basis and a yield of 1.77%. Brocade Communications Systems’s dividend payout ratio is presently 42.31%.
In other news, SVP Ellen Odonnell sold 6,345 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $12.37, for a total transaction of $78,487.65. Following the sale, the senior vice president now directly owns 11,226 shares of the company’s stock, valued at approximately $138,865.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lloyd Carney sold 1,050,916 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $12.47, for a total value of $13,104,922.52. Following the sale, the chief executive officer now directly owns 1,143,810 shares in the company, valued at $14,263,310.70. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of BRCD. Acrospire Investment Management LLC boosted its stake in shares of Brocade Communications Systems by 20.4% in the third quarter. Acrospire Investment Management LLC now owns 11,211 shares of the company’s stock valued at $103,000 after buying an additional 1,900 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Brocade Communications Systems by 87.6% in the third quarter. PNC Financial Services Group Inc. now owns 13,362 shares of the company’s stock valued at $122,000 after buying an additional 6,239 shares during the period. Barry Investment Advisors LLC boosted its stake in shares of Brocade Communications Systems by 14.9% in the third quarter. Barry Investment Advisors LLC now owns 15,728 shares of the company’s stock valued at $145,000 after buying an additional 2,042 shares during the period. Creative Planning boosted its stake in shares of Brocade Communications Systems by 27.4% in the first quarter. Creative Planning now owns 11,743 shares of the company’s stock valued at $147,000 after buying an additional 2,524 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Brocade Communications Systems by 14.0% in the first quarter. Bank of Montreal Can now owns 13,240 shares of the company’s stock valued at $166,000 after buying an additional 1,629 shares during the period. 80.06% of the stock is currently owned by institutional investors and hedge funds.
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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