Equities research analysts expect that Ciena Co. (NYSE:CIEN) will report $0.63 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Ciena’s earnings, with estimates ranging from $0.59 to $0.68. Ciena reported earnings per share of $0.53 during the same quarter last year, which suggests a positive year over year growth rate of 18.9%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, December 12th.
According to Zacks, analysts expect that Ciena will report full year earnings of $2.16 per share for the current year, with EPS estimates ranging from $2.12 to $2.20. For the next year, analysts anticipate that the firm will report earnings of $2.56 per share, with EPS estimates ranging from $2.36 to $2.70. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Ciena.
Ciena (NYSE:CIEN) last posted its earnings results on Thursday, September 5th. The communications equipment provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.21. The company had revenue of $960.60 million during the quarter, compared to analyst estimates of $930.64 million. Ciena had a return on equity of 13.64% and a net margin of 6.77%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share.
CIEN has been the topic of several analyst reports. ValuEngine lowered Ciena from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. B. Riley set a $56.00 target price on shares of Ciena and gave the company a “buy” rating in a research note on Friday, October 25th. Cowen reiterated a “buy” rating and issued a $54.00 target price on shares of Ciena in a report on Monday. Evercore ISI initiated coverage on shares of Ciena in a research report on Wednesday, September 11th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, Piper Jaffray Companies set a $46.00 price objective on shares of Ciena and gave the company a “hold” rating in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $48.48.
In related news, SVP Stephen B. Alexander sold 2,500 shares of Ciena stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.73, for a total value of $94,325.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP David M. Rothenstein sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $37.73, for a total value of $75,460.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,313 shares of company stock valued at $1,977,005. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan raised its position in Ciena by 1.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 26,590 shares of the communications equipment provider’s stock worth $1,094,000 after acquiring an additional 280 shares during the last quarter. Creative Planning raised its holdings in shares of Ciena by 3.8% during the second quarter. Creative Planning now owns 8,152 shares of the communications equipment provider’s stock worth $335,000 after acquiring an additional 302 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Ciena by 98.5% during the second quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 320 shares in the last quarter. World Asset Management Inc boosted its position in Ciena by 5.5% during the third quarter. World Asset Management Inc now owns 7,282 shares of the communications equipment provider’s stock valued at $286,000 after purchasing an additional 381 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ciena by 4.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,304 shares of the communications equipment provider’s stock valued at $506,000 after purchasing an additional 512 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE CIEN traded up $0.29 during mid-day trading on Friday, hitting $36.99. The company had a trading volume of 70,945 shares, compared to its average volume of 1,734,544. Ciena has a 12 month low of $30.67 and a 12 month high of $46.78. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.90 and a quick ratio of 2.45. The firm’s 50 day simple moving average is $37.40 and its two-hundred day simple moving average is $39.95.
Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice 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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