Royal Bank Of Canada Reiterates “Hold” Rating for Brocade Communications Systems, Inc. (NASDAQ:BRCD)

Brocade Communications Systems, Inc. (NASDAQ:BRCD)‘s stock had its “hold” rating reiterated by analysts at Royal Bank Of Canada in a report released on Thursday, November 2nd. They presently have a $12.75 price objective on the technology company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 0.47% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research cut shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Robert W. Baird set a $13.00 price objective on shares of Brocade Communications Systems and gave the company a “hold” rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Brocade Communications Systems has a consensus rating of “Hold” and a consensus price target of $12.83.

Brocade Communications Systems (NASDAQ BRCD) opened at $12.69 on Thursday. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 0.58. Brocade Communications Systems has a 1-year low of $11.43 and a 1-year high of $12.74. The stock has a market cap of $5,270.00, a price-to-earnings ratio of 39.78, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54.

Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.12. The business had revenue of $549.00 million during the quarter, compared to the consensus estimate of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. sell-side analysts anticipate that Brocade Communications Systems will post 0.36 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of BRCD. PNC Financial Services Group Inc. lifted its holdings in shares of Brocade Communications Systems by 13.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock worth $148,000 after acquiring an additional 1,430 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Brocade Communications Systems in the 2nd quarter worth approximately $177,000. Mint Tower Capital Management B.V. acquired a new position in shares of Brocade Communications Systems in the 3rd quarter worth approximately $179,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Brocade Communications Systems by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,758 shares of the technology company’s stock worth $211,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Brocade Communications Systems in the 3rd quarter worth approximately $203,000. Institutional investors own 83.72% of the company’s stock.

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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