Electronics

Brocade Communications Systems Inc Earnings Climb 24% In Q4

Brocade Communications Systems Inc Earnings Climb 24% In Q4

Royal Bank Of Canada raised their target price on shares of Brocade Communications Systems from $10.00 to $11.00 and gave the stock a "sector perform" rating in a report on Monday, August 22nd. P/E (price to earnings) ratio is 22.14 and Forward P/E ratio of 12.35. Raymond James Financial Inc. upgraded Brocade Communications Systems from an underperform rating to a neutral rating in a report on Wednesday, November 2nd. The insider owns 558,417 shares which have current market value of around $6974628.33.Ken K. Cheng is another major inside shareholder in the company. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and two have given a buy rating to the company's stock. The stock had a trading capacity of 2.09M shares.

Brocade Communications Systems, Inc. closed its last trading session at $12.37 with the gain of 0.24%. The stock's market capitalization is 4.97B, it has a 52-week low of 7.40 and a 52-week high of 12.47. (NASDAQ:BRCD) topped its 52-week high price of $12.5 on Nov 23, 2016 and 52-Week Low Price of $7.4 on Jan 20, 2016.

The stock's 50 day moving average is 10.38 and its 200 day moving average is 9.40. (NASDAQ:BRCD) in the last quarter reported its actual EPS of $0.33/share where the analyst estimated EPS was $0.22/share. The company reported the earnings of $0.33/Share in the last quarter where the estimated EPS by analysts was $0.22/share. The number of times the company missed analysts' estimates is 2. The Return on Equity (ROE) value stands at 9.3%. This was up from $588.83 million past year. Earningswhispers.com expects the company to outperform the Street's top-line prediction by two cents with its EPS estimate of $0.90.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. This represents a $0.22 annualized dividend and a dividend yield of 1.78%. Brocade Communications Systems's dividend payout ratio is presently 39.29%. American International Group Inc. now owns 904,259 shares of the company's stock worth $8,301,000 after buying an additional 886,821 shares during the period. Over the last 3 months and over the last 6 months, the shares of Brocade Communications Systems, Inc. The company has a total of 400.23 Million shares outstanding. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The number of shares now owned by investors are 400.23 mln. Finally, Comerica Bank purchased a new stake in shares of Brocade Communications Systems during the second quarter worth about $3,142,000.

Earnings per share are generally stated to be the single most vital variable in determining a stock's price.

The firm is trading with SMA20 of 4.43 Percent, SMA50 of 8.62 Percent and SMA200 of 20.03 percent. Acadian Asset Management LLC raised its stake in Brocade Communications Systems by 312.5% in the second quarter. BRCD's revenue was up 11.6% compared to the same quarter previous year.

For this year, Brocade Communications Systems, Inc. Institutional investors and hedge funds own 79.76% of the company's stock.

09/22/2016 - Brocade Communications Systems, Inc. had its "neutral" rating reiterated by analysts at Citigroup.

Several analysts have commented on the stock.

Brocade Communications Systems, Inc. delivers industry-leading platforms, solutions, and services for intelligently connecting, managing, and optimizing IT resources in shared storage environments. Brocade's shift in product mix (from SAN to IP Networking) impacted its gross margins in fiscal 2016.