Ciena Corporation (NYSE:CIEN)‘s stock had its “buy” rating reaffirmed by investment analysts at William Blair in a research report issued to clients and investors on Monday.
A number of other research firms also recently weighed in on CIEN. Stifel Nicolaus restated a “buy” rating and set a $30.00 target price on shares of Ciena Corporation in a research report on Friday, September 1st. BidaskClub downgraded Ciena Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 4th. Citigroup Inc. upgraded Ciena Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $23.87 to $29.00 in a research report on Wednesday, August 30th. Nomura reiterated a “buy” rating and issued a $28.00 price objective on shares of Ciena Corporation in a report on Wednesday, September 20th. Finally, ValuEngine downgraded Ciena Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Ciena Corporation currently has an average rating of “Buy” and a consensus target price of $29.53.
Ciena Corporation (NYSE CIEN) opened at $19.65 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.92 and a quick ratio of 2.50. The company has a market capitalization of $2,809.53, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.73 and a beta of 1.64. Ciena Corporation has a one year low of $19.49 and a one year high of $27.98.
Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $728.70 million for the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. sell-side analysts expect that Ciena Corporation will post 1.51 EPS for the current year.
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In related news, VP James Frodsham sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $22.00, for a total transaction of $44,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew C. Petrik sold 1,251 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $21.60, for a total value of $27,021.60. The disclosure for this sale can be found here. Insiders have sold 84,052 shares of company stock valued at $1,821,578 over the last ninety days. 1.45% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ciena Corporation by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 517 shares during the period. Fortaleza Asset Management Inc. bought a new stake in Ciena Corporation in the second quarter valued at approximately $134,000. Advisor Group Inc. raised its stake in Ciena Corporation by 6.4% in the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 604 shares during the period. Howe & Rusling Inc. bought a new stake in Ciena Corporation in the third quarter valued at approximately $158,000. Finally, Acadian Asset Management LLC bought a new stake in Ciena Corporation in the second quarter valued at approximately $159,000.
About Ciena Corporation
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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