Brokerages Expect Ciena Corporation (CIEN) to Post $0.50 EPS

Wall Street analysts expect Ciena Corporation (NYSE:CIEN) to post $0.50 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ciena Corporation’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.55. Ciena Corporation reported earnings per share of $0.44 during the same quarter last year, which suggests a positive year over year growth rate of 13.6%. The firm is scheduled to report its next earnings report before the market opens on Thursday, December 7th.

According to Zacks, analysts expect that Ciena Corporation will report full-year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.81. For the next financial year, analysts anticipate that the business will post earnings of $1.98 per share, with EPS estimates ranging from $1.75 to $2.20. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Ciena Corporation.

Ciena Corporation (NYSE:CIEN) last issued its earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The company had revenue of $728.70 million for the quarter, compared to the consensus estimate of $726.81 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Ciena Corporation’s quarterly revenue was up 8.7% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on CIEN shares. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target on shares of Ciena Corporation in a research note on Friday, September 1st. MKM Partners reissued a “buy” rating on shares of Ciena Corporation in a research note on Thursday, August 31st. UBS AG set a $31.00 price objective on shares of Ciena Corporation and gave the company a “buy” rating in a report on Wednesday, August 30th. Citigroup Inc. upgraded shares of Ciena Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $23.87 to $29.00 in a report on Wednesday, August 30th. Finally, B. Riley restated a “buy” rating and issued a $34.25 price objective on shares of Ciena Corporation in a report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $29.53.

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Ciena Corporation (CIEN) opened at $20.21 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.92. Ciena Corporation has a 52 week low of $19.40 and a 52 week high of $27.98. The company has a market cap of $2,883.72, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.64.

In other news, VP James Frodsham sold 2,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $22.00, for a total value of $44,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary B. Smith sold 8,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $23.27, for a total transaction of $186,160.00. The disclosure for this sale can be found here. Insiders sold a total of 87,052 shares of company stock valued at $1,880,078 in the last quarter. Insiders own 1.45% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ciena Corporation by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 517 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new stake in Ciena Corporation in the 2nd quarter valued at about $134,000. Acadian Asset Management LLC acquired a new stake in Ciena Corporation in the 2nd quarter valued at about $159,000. Howe & Rusling Inc. acquired a new stake in Ciena Corporation in the 3rd quarter valued at about $158,000. Finally, First Quadrant L P CA acquired a new stake in Ciena Corporation in the 3rd quarter valued at about $183,000.

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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Earnings History and Estimates for Ciena Corporation (NYSE:CIEN)

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