Brocade Communications Systems (BRCD) Receiving Somewhat Positive Press Coverage, Study Finds

Media stories about Brocade Communications Systems (NASDAQ:BRCD) have been trending somewhat positive on Saturday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Brocade Communications Systems earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned press coverage about the technology company an impact score of 46.2973805549097 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Here are some of the media headlines that may have impacted Accern Sentiment’s rankings:

Several research firms have weighed in on BRCD. Stifel Nicolaus restated a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, May 26th. Zacks Investment Research cut Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut Brocade Communications Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.13.

Brocade Communications Systems (NASDAQ BRCD) opened at 12.14 on Friday. The stock has a market capitalization of $4.98 billion, a P/E ratio of 83.15 and a beta of 0.66. Brocade Communications Systems has a 52 week low of $8.64 and a 52 week high of $12.72. The company’s 50-day moving average price is $12.56 and its 200 day moving average price is $12.52.

Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings results on Thursday, May 25th. The technology company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.09. Brocade Communications Systems had a return on equity of 8.49% and a net margin of 2.54%. The company had revenue of $552.80 million for the quarter, compared to analysts’ expectations of $602.92 million. During the same period last year, the firm earned $0.22 earnings per share. Brocade Communications Systems’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Brocade Communications Systems will post $0.58 EPS for the current fiscal year.

In other news, SVP Ellen Odonnell sold 7,811 shares of Brocade Communications Systems stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $12.64, for a total transaction of $98,731.04. Following the sale, the senior vice president now owns 19,037 shares in the company, valued at $240,627.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ken Cheng sold 200,000 shares of Brocade Communications Systems stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $12.62, for a total value of $2,524,000.00. Following the sale, the senior vice president now owns 252,338 shares in the company, valued at approximately $3,184,505.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,299 shares of company stock worth $3,487,050. 1.77% of the stock is owned by insiders.

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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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