News headlines about Ciena (NYSE:CIEN) have trended positive on Wednesday, Accern reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ciena earned a news impact score of 0.34 on Accern’s scale. Accern also gave headlines about the communications equipment provider an impact score of 44.7933047733975 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the headlines that may have effected Accern’s scoring:
A number of brokerages have recently weighed in on CIEN. Zacks Investment Research upgraded Ciena from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub upgraded Ciena from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 25th. Goldman Sachs Group upgraded Ciena from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Monday, January 15th. B. Riley lowered their target price on Ciena from $30.50 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, December 5th. Finally, Cowen reiterated a “buy” rating and set a $33.00 target price on shares of Ciena in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have issued a buy rating to the company. Ciena currently has an average rating of “Buy” and an average price target of $28.48.
Ciena (CIEN) traded up $0.53 during trading on Wednesday, reaching $23.20. The company’s stock had a trading volume of 5,473,724 shares, compared to its average volume of 2,850,000. Ciena has a 12-month low of $19.40 and a 12-month 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. The company has a market cap of $3,330.00, a price-to-earnings ratio of 3.35, a PEG ratio of 1.43 and a beta of 1.67.
Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The company had revenue of $744.40 million for the quarter, compared to the consensus estimate of $736.91 million. Ciena had a return on equity of 18.32% and a net margin of 45.04%. Ciena’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. equities analysts expect that Ciena will post 1 earnings per share for the current year.
Ciena announced that its Board of Directors has authorized a share buyback plan on Thursday, December 7th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Ciena news, CEO Gary B. Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $20.55, for a total value of $205,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James E. Moylan, Jr. sold 27,284 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $21.22, for a total value of $578,966.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,743 shares of company stock worth $4,693,621. Company insiders own 1.45% of the company’s stock.
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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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