NEW YORK (TheStreet) -- Brocade Communications Systems  (BRCD) stock is up by 6.98% to $8.35 in mid-afternoon trading on Tuesday, ahead of the company's 2016 first quarter results, due out after the market close on Wednesday.

Analysts surveyed by Thomson Reuters are projecting the networking solutions company to report earnings of 24 cents per share on revenue of $561.2 million.

Brocade reported earnings of 27 cents per share on revenue of $576 million during the year-ago period. 

Revenue during the 2015 fourth quarter was boosted by sales of IP Networking products such as Ethernet switches.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "buy" with a ratings score of B-.The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and growth in earnings per share. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: BRCD

BRCD Chart BRCD data by YCharts