Equities research analysts predict that Ciena Co. (NYSE:CIEN) will announce sales of $752.15 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Ciena’s earnings. The lowest sales estimate is $740.00 million and the highest is $760.77 million. Ciena reported sales of $832.91 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.7%. The firm is expected to report its next earnings results before the market opens on Thursday, March 4th.
On average, analysts expect that Ciena will report full year sales of $3.57 billion for the current fiscal year, with estimates ranging from $3.54 billion to $3.59 billion. For the next year, analysts anticipate that the company will report sales of $3.85 billion, with estimates ranging from $3.80 billion to $3.92 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ciena.
Ciena (NYSE:CIEN) last posted its earnings results on Wednesday, December 9th. The communications equipment provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.03). The business had revenue of $828.50 million during the quarter, compared to analyst estimates of $826.70 million. Ciena had a net margin of 10.23% and a return on equity of 17.41%. The firm’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share.
CIEN has been the subject of a number of research analyst reports. Rosenblatt Securities downgraded Ciena from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Wednesday, November 18th. B. Riley boosted their price target on shares of Ciena from $46.00 to $51.50 and gave the stock a “neutral” rating in a research report on Friday, December 11th. Morgan Stanley raised their price objective on shares of Ciena from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 15th. Raymond James raised their target price on shares of Ciena from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Citigroup upped their price target on Ciena from $55.00 to $65.00 in a report on Thursday. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $58.18.
In other news, SVP Scott Mcfeely sold 900 shares of the stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $45.08, for a total value of $40,572.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction on Monday, January 25th. The stock was sold at an average price of $55.65, for a total transaction of $111,300.00. Insiders have sold 38,878 shares of company stock worth $2,052,493 over the last three months. Company insiders own 0.95% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Ciena by 605.3% during the 1st quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock worth $46,669,000 after purchasing an additional 1,072,632 shares during the period. KBC Group NV raised its holdings in Ciena by 286.3% in the 3rd quarter. KBC Group NV now owns 82,947 shares of the communications equipment provider’s stock valued at $3,292,000 after acquiring an additional 61,473 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ciena by 8.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 193,200 shares of the communications equipment provider’s stock worth $7,668,000 after purchasing an additional 15,502 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Ciena during the third quarter worth $5,991,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Ciena by 1,332.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 212,641 shares of the communications equipment provider’s stock valued at $8,532,000 after buying an additional 197,801 shares in the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.
CIEN stock opened at $52.17 on Monday. Ciena has a fifty-two week low of $30.58 and a fifty-two week high of $61.51. The company has a market capitalization of $8.09 billion, a P/E ratio of 22.49, a PEG ratio of 1.41 and a beta of 0.85. The company has a 50-day simple moving average of $54.38 and a 200 day simple moving average of $48.45. The company has a quick ratio of 2.98, a current ratio of 3.43 and a debt-to-equity ratio of 0.27.
Ciena Company Profile
Ciena Corporation provides network hardware, software, and services that support the transport, routing, 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 products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
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