Media coverage about Ciena (NYSE:CIEN) has been trending somewhat positive recently, Accern reports. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Ciena earned a coverage optimism score of 0.23 on Accern’s scale. Accern also gave news headlines about the communications equipment provider an impact score of 46.4274897981703 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern’s analysis:
Several equities research analysts recently commented on the company. Zacks Investment Research raised Ciena from a “sell” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, March 13th. Northland Securities reaffirmed a “buy” rating and set a $34.00 target price on shares of Ciena in a research note on Monday, March 19th. ValuEngine raised Ciena from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price (up previously from $24.00) on shares of Ciena in a research note on Wednesday, March 7th. Finally, B. Riley raised their target price on Ciena from $27.50 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.91.
Shares of Ciena stock opened at $26.35 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.06 and a debt-to-equity ratio of 0.33. Ciena has a 52 week low of $19.40 and a 52 week high of $27.98. The company has a market capitalization of $3,709.01, a price-to-earnings ratio of 17.68, a PEG ratio of 1.54 and a beta of 1.38.
Ciena (NYSE:CIEN) last announced its quarterly earnings data on Tuesday, March 6th. The communications equipment provider reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.08. Ciena had a return on equity of 14.10% and a net margin of 27.76%. The firm had revenue of $646.14 million during the quarter, compared to analysts’ expectations of $641.77 million. During the same quarter last year, the firm posted $0.17 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. research analysts predict that Ciena will post 1.08 EPS for the current year.
In other news, VP James Frodsham sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $22.37, for a total value of $89,480.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary B. Smith sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $27.16, for a total value of $217,280.00. The disclosure for this sale can be found here. Insiders sold 95,031 shares of company stock worth $2,349,753 in the last 90 days. Corporate insiders own 1.38% of the company’s stock.
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Ciena Company Profile
Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
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