Ciena Corporation (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of Ciena stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $22.75, for a total transaction of $45,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
David M. Rothenstein also recently made the following trade(s):
- On Wednesday, November 15th, David M. Rothenstein sold 2,000 shares of Ciena stock. The shares were sold at an average price of $19.50, for a total transaction of $39,000.00.
Shares of Ciena Corporation (NYSE CIEN) traded down $0.83 on Friday, reaching $22.04. 4,272,500 shares of the company were exchanged, compared to its average volume of 2,651,142. The firm has a market capitalization of $3,170.00, a P/E ratio of 3.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.67. Ciena Corporation has a fifty-two week low of $19.40 and a fifty-two week high of $27.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.68 and a current ratio of 1.93.
Ciena (NYSE:CIEN) last announced its earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The business had revenue of $744.40 million during the quarter, compared to the consensus estimate of $736.91 million. Ciena had a net margin of 45.04% and a return on equity of 18.32%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. analysts predict that Ciena Corporation will post 1 earnings per share for the current year.
Ciena announced that its Board of Directors has initiated a share buyback plan on Thursday, December 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Several institutional investors have recently made changes to their positions in CIEN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ciena by 11.3% in the second 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 period. Advisor Group Inc. lifted its position in Ciena by 6.4% during the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 604 shares during the period. Howe & Rusling Inc. bought a new stake in Ciena during the third quarter worth about $158,000. First Quadrant L P CA bought a new stake in Ciena during the third quarter worth about $183,000. Finally, Koch Industries Inc. bought a new stake in Ciena during the second quarter worth about $235,000.
A number of research analysts have weighed in on the stock. MKM Partners reaffirmed a “buy” rating and issued a $30.00 price target on shares of Ciena in a research note on Tuesday, September 26th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective (down previously from $31.00) on shares of Ciena in a research report on Monday, September 25th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price objective on shares of Ciena in a research report on Tuesday, September 26th. Goldman Sachs Group raised shares of Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Monday. Finally, Zacks Investment Research lowered shares of Ciena from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $28.48.
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Ciena 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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