Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) have earned a consensus recommendation of “Hold” from the twenty-two ratings firms that are presently covering the firm. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $10.32.
Several brokerages have commented on BRCD. Zacks Investment Research downgraded Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Monday, January 23rd. TheStreet downgraded Brocade Communications Systems from a “b” rating to a “c” rating in a report on Friday, February 24th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Brocade Communications Systems in a report on Tuesday, November 22nd.
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In other news, SVP Ellen Odonnell sold 6,345 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $12.37, for a total value of $78,487.65. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its position 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 worth $103,000 after buying an additional 1,900 shares in the last quarter. Paragon Capital Management Ltd increased its position in shares of Brocade Communications Systems by 7.9% in the third quarter. Paragon Capital Management Ltd now owns 11,377 shares of the company’s stock worth $105,000 after buying an additional 832 shares in the last quarter. PNC Financial Services Group Inc. increased its position 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 worth $122,000 after buying an additional 6,239 shares in the last quarter. Timber Hill LLC acquired a new position in shares of Brocade Communications Systems during the third quarter worth about $126,000. Finally, Barry Investment Advisors LLC increased its position 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 worth $145,000 after buying an additional 2,042 shares in the last quarter. 80.06% of the stock is currently owned by institutional investors.
Shares of Brocade Communications Systems (NASDAQ:BRCD) opened at 12.47 on Tuesday. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 45.68 and a beta of 0.88. The stock’s 50 day moving average price is $12.39 and its 200 day moving average price is $11.33. Brocade Communications Systems has a one year low of $7.60 and a one year high of $12.54.
Brocade Communications Systems (NASDAQ:BRCD) last announced its earnings results on Thursday, February 23rd. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.10. The company had revenue of $581.46 million for the quarter, compared to analyst estimates of $649.89 million. Brocade Communications Systems had a return on equity of 13.41% and a net margin of 9.12%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. Analysts expect that Brocade Communications Systems will post $0.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Friday, March 10th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, March 8th. Brocade Communications Systems’s dividend payout ratio is 42.31%.
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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