Brokerages Set Ciena Co. (CIEN) PT at $33.05

Ciena Co. (NYSE:CIEN) has received an average recommendation of “Buy” from the twenty-six research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $33.05.

Several brokerages have commented on CIEN. Stifel Nicolaus began coverage on shares of Ciena in a report on Tuesday, October 23rd. They issued a “buy” rating and a $35.00 price target for the company. Northland Securities downgraded shares of Ciena from an “outperform” rating to a “market perform” rating in a report on Monday, October 1st. UBS Group downgraded shares of Ciena from a “buy” rating to a “neutral” rating and raised their price target for the company from $29.50 to $33.00 in a report on Wednesday, September 26th. Morgan Stanley downgraded shares of Ciena from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $30.00 to $32.00 in a report on Thursday, September 13th. Finally, Zacks Investment Research raised shares of Ciena from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, September 5th.

In related news, SVP James E. Moylan, Jr. sold 2,000 shares of Ciena stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $25.79, for a total value of $51,580.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Rick Hamilton sold 2,931 shares of Ciena stock in a transaction on Friday, September 21st. The stock was sold at an average price of $31.27, for a total transaction of $91,652.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,212 shares of company stock worth $2,233,222. 1.38% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its position in Ciena by 36,042.9% in the 2nd quarter. Parallel Advisors LLC now owns 5,060 shares of the communications equipment provider’s stock worth $134,000 after purchasing an additional 5,046 shares during the period. Signaturefd LLC increased its position in shares of Ciena by 484.4% in the second quarter. Signaturefd LLC now owns 5,534 shares of the communications equipment provider’s stock valued at $147,000 after acquiring an additional 4,587 shares during the period. CenterStar Asset Management LLC purchased a new position in shares of Ciena in the third quarter valued at about $159,000. Moneta Group Investment Advisors LLC increased its position in shares of Ciena by 102.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 6,140 shares of the communications equipment provider’s stock valued at $163,000 after acquiring an additional 3,100 shares during the period. Finally, Exane Derivatives purchased a new position in shares of Ciena in the second quarter valued at about $190,000.

NYSE:CIEN traded up $0.47 during trading hours on Thursday, hitting $32.02. The stock had a trading volume of 4,901,950 shares, compared to its average volume of 3,074,123. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.76. Ciena has a one year low of $19.40 and a one year high of $32.33. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.40 and a beta of 1.21.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The firm had revenue of $818.82 million during the quarter, compared to the consensus estimate of $792.28 million. During the same period last year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts expect that Ciena will post 1.1 EPS for the current fiscal year.

About Ciena

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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Analyst Recommendations for Ciena (NYSE:CIEN)

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