Ciena Corporation (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $21.56, for a total value of $43,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Ciena Corporation (NYSE:CIEN) opened at 20.93 on Friday. The company has a market capitalization of $2.99 billion, a P/E ratio of 22.90 and a beta of 1.69. Ciena Corporation has a 12-month low of $18.94 and a 12-month high of $27.98. The company’s 50 day moving average price is $21.83 and its 200-day moving average price is $23.73.
Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The business had revenue of $728.70 million for the quarter, compared to the consensus estimate of $726.81 million. During the same period in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current fiscal year.
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CIEN has been the topic of a number of analyst reports. Northland Securities reiterated a “buy” rating and issued a $32.00 price target on shares of Ciena Corporation in a research report on Tuesday, July 4th. ValuEngine upgraded Ciena Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price on shares of Ciena Corporation in a report on Friday, July 21st. BidaskClub cut Ciena Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, Zacks Investment Research cut Ciena Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $29.53.
Institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. purchased a new stake in shares of Ciena Corporation in the second quarter worth approximately $2,679,000. Vanguard Group Inc. raised its stake in shares of Ciena Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock worth $289,534,000 after purchasing an additional 1,235,744 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Ciena Corporation by 31.4% in the first quarter. Legal & General Group Plc now owns 91,386 shares of the communications equipment provider’s stock worth $2,159,000 after purchasing an additional 21,834 shares during the last quarter. Dupont Capital Management Corp raised its stake in shares of Ciena Corporation by 150.1% in the second quarter. Dupont Capital Management Corp now owns 72,528 shares of the communications equipment provider’s stock worth $1,815,000 after purchasing an additional 43,528 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Ciena Corporation in the second quarter worth approximately $1,927,000.
Ciena Corporation Company Profile
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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