Brocade Communications Systems, Inc. (NASDAQ:BRCD) has received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $12.81.
BRCD has been the subject of several research analyst reports. BidaskClub lowered shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Robert W. Baird reaffirmed a “hold” rating on shares of Brocade Communications Systems in a research report on Friday, August 25th. Finally, 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, September 29th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in Brocade Communications Systems by 2.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,864,571 shares of the technology company’s stock worth $23,513,000 after buying an additional 50,507 shares during the period. Principal Financial Group Inc. grew its stake in Brocade Communications Systems by 4.5% during the second quarter. Principal Financial Group Inc. now owns 1,720,246 shares of the technology company’s stock worth $21,692,000 after buying an additional 73,305 shares during the period. Stevens Capital Management LP grew its stake in Brocade Communications Systems by 1.9% during the second quarter. Stevens Capital Management LP now owns 757,117 shares of the technology company’s stock worth $9,547,000 after buying an additional 13,900 shares during the period. Mutual of America Capital Management LLC grew its stake in Brocade Communications Systems by 2.8% during the second quarter. Mutual of America Capital Management LLC now owns 329,902 shares of the technology company’s stock worth $4,160,000 after buying an additional 9,072 shares during the period. Finally, Brookstone Capital Management purchased a new stake in Brocade Communications Systems during the second quarter worth approximately $279,000. Institutional investors own 83.39% of the company’s stock.
Brocade Communications Systems (NASDAQ BRCD) traded up 0.08% during trading on Wednesday, hitting $12.28. 4,061,768 shares of the company were exchanged. The company has a 50-day moving average of $12.20 and a 200-day moving average of $12.47. Brocade Communications Systems has a 12 month low of $8.64 and a 12 month high of $12.72. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 172.96 and a beta of 0.63.
Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, beating 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 business had revenue of $549.00 million during the quarter, compared to analyst estimates of $614.10 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis. Analysts forecast that Brocade Communications Systems will post $0.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th were paid a dividend of $0.055 per share. The ex-dividend date was Friday, September 8th. This represents a $0.22 annualized dividend and a yield of 1.79%. Brocade Communications Systems’s dividend payout ratio is currently 314.29%.
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About Brocade Communications Systems
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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