Brocade Announces Second Quarter Fiscal Year 2016 Results
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UBS Cuts Price Target on Brocade Communications (BRCD) to $7.50; Reiterates Sell
May 20, 2016 8:35 AM EDTUBS maintained a Sell rating on Brocade Communications (NASDAQ: BRCD), and cut the price target to $7.50 (from $8.50), following the company's 2Q earnings report. BRCD reported non-GAAP EPS of $0.22 on sales of $523mn, in the middle of the company's preannounced range. Management also... More
Piper Jaffray Cuts Price Target on Brocade Communications (BRCD) to $8 Following 2Q
May 20, 2016 7:36 AM EDTPiper Jaffray maintained a Neutral rating on Brocade Communications (NASDAQ: BRCD), and cut the price target to $8.00 (from $9.00), following the company's 2Q earnings report. Brocade reported revenue of $523.3M, in-line with management's preannounced results of $518-528M. However, the results were well below... More
RBC Capital Cuts Price Target on Brocade Communications (BRCD) as Soft Demand Drives Revenue Miss
May 20, 2016 7:09 AM EDTRBC Capital maintained a Sector Perform rating on Brocade Communications (NASDAQ: BRCD), and cut the price target to $9.00 (from $10.00), following the company's 2Q earnings report. Brocade reported results at the midpoint of the preannouncement, with revenues/EPS of $523M/ $0.22 vs. Street at $529M/ $0.22. The revenue miss was driven by the... More
Brocade (BRCD) Weak Across All Business Lines - BMO
May 20, 2016 6:53 AM EDTBMO Capital analyst, Tim Long, noted that Brocade's (NASDAQ: BRCD) weakness was broad-based across the SAN and IP Networking segments. FYQ3 guidance was weak as well. FY2016 goes to $0.95 from $1.01 and FY2017 EPS goes to $0.92 from $1.03. Including Ruckus, the combined model yields EPS of... More
Baird Cuts Price Target on Brocade Communications (BRCD) Following 2Q Report
May 20, 2016 6:50 AM EDTBaird maintained a Neutral rating on Brocade Communications (NASDAQ: BRCD), and cut the price target to $9.00 (from $10.00), following the company's 2Q earnings report. Brocade reported revenue/non-GAAP EPS of $523 million/$0.22 which is consistent with the companys negative preliminary announcement earlier this month.... More
Brocade Communications (BRCD) Raises Quarterly Dividend 22.2% to $0.055; 2.8% Yield
May 19, 2016 4:05 PM EDTBrocade Communications (NASDAQ: BRCD) declared a quarterly dividend of $0.055 per share, or $0.22 annualized. This is a 22.2% increase from the prior dividend of $0.045.
The dividend will be payable on July 5, 2016, to stockholders of record on June 10, 2016, with an ex-dividend date of June 8,... More
Brocade Communications (BRCD) Reports In-Line Q2 EPS; Raises Dividend
May 19, 2016 4:04 PM EDTBrocade Communications (NASDAQ: BRCD) reported Q2 EPS of $0.22, in-line with the analyst estimate of $0.22. Revenue for the quarter came in at $523 million versus the consensus estimate of $530.53 million.
Despite the challenging environment for both SAN and IP networking, Brocade had a productive second fiscal quarter, said Lloyd Carney, CEO of Brocade. We were... More
