Shares of Ciena Co. (NYSE:CIEN – Get Rating) have been assigned an average recommendation of “Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $79.50.
Several equities research analysts have weighed in on the company. StockNews.com cut Ciena from a “buy” rating to a “hold” rating in a research note on Wednesday. B. Riley upped their target price on Ciena from $51.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, December 10th. They noted that the move was a valuation call. Cowen upped their price target on shares of Ciena from $75.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, December 10th. Needham & Company LLC upped their price target on shares of Ciena from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, December 28th. Finally, Jefferies Financial Group upped their price target on shares of Ciena from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, December 21st.
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Shares of CIEN stock opened at $59.37 on Thursday. The stock has a 50 day simple moving average of $68.21 and a 200 day simple moving average of $62.39. The company has a current ratio of 3.51, a quick ratio of 3.10 and a debt-to-equity ratio of 0.22. Ciena has a 1 year low of $49.51 and a 1 year high of $78.28. The stock has a market cap of $9.20 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89.
Ciena (NYSE:CIEN – Get Rating) last released its earnings results on Monday, March 7th. The communications equipment provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. Ciena had a return on equity of 13.89% and a net margin of 13.81%. The firm had revenue of $844.40 million during the quarter, compared to analysts’ expectations of $845.14 million. During the same period in the prior year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts forecast that Ciena will post 2.61 EPS for the current year.
In other Ciena news, VP David M. Rothenstein sold 2,500 shares of the stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $73.86, for a total transaction of $184,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Phipps sold 21,598 shares of the stock in a transaction dated Tuesday, December 21st. The stock was sold at an average price of $74.37, for a total value of $1,606,243.26. The disclosure for this sale can be found here. Insiders sold 38,098 shares of company stock valued at $2,753,678 over the last 90 days. 0.94% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. grew its holdings in Ciena by 32.9% during the 4th quarter. First Horizon Advisors Inc. now owns 744 shares of the communications equipment provider’s stock worth $57,000 after acquiring an additional 184 shares during the period. Aurora Investment Counsel grew its holdings in Ciena by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 31,911 shares of the communications equipment provider’s stock worth $1,639,000 after acquiring an additional 195 shares during the period. Synovus Financial Corp grew its holdings in Ciena by 2.5% during the 4th quarter. Synovus Financial Corp now owns 7,960 shares of the communications equipment provider’s stock worth $613,000 after acquiring an additional 195 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Ciena by 2.6% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 7,727 shares of the communications equipment provider’s stock worth $397,000 after purchasing an additional 197 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Ciena by 3.3% during the 4th quarter. CIBC Asset Management Inc now owns 6,248 shares of the communications equipment provider’s stock worth $481,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 86.20% of the company’s stock.
Ciena Company Profile (Get Rating)
Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.
Further Reading
- Get a free copy of the StockNews.com research report on Ciena (CIEN)
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