News headlines about Ciena Corporation (NYSE:CIEN) have trended somewhat positive this week, Accern reports. The research group identifies positive and negative news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Ciena Corporation earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned headlines about the communications equipment provider an impact score of 45.3465449376476 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s analysis:
- What do Infinera and Ciena do? – Motley Fool (fool.com)
- 3 Things Ciena Management Wants You to Know (fool.com)
- M-CORD Project Continues to Lead Open Source Innovation for Next-Generation 5G Mobile Networks (cellular-news.com)
- Ciena : to Showcase Innovations That Boost Capacity of Submarine Cables at Submarine Networks World 2017 (4-traders.com)
- Insider Selling: Ciena Corporation (CIEN) CEO Sells 8,000 Shares of Stock (americanbankingnews.com)
CIEN has been the topic of a number of research analyst reports. Jefferies Group LLC restated a “buy” rating and set a $32.50 price objective (up previously from $29.00) on shares of Ciena Corporation in a research report on Friday, June 2nd. Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective on shares of Ciena Corporation in a research report on Friday, September 1st. BMO Capital Markets restated an “outperform” rating and set a $32.00 price objective (up previously from $30.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. Argus increased their price objective on shares of Ciena Corporation from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, June 2nd. Finally, TheStreet upgraded shares of Ciena Corporation from a “c+” rating to a “b” rating in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $29.79.
Ciena Corporation (CIEN) opened at 21.96 on Friday. The company’s 50 day moving average is $23.63 and its 200-day moving average is $24.15. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 24.03 and a beta of 1.68.
Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. The company had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, analysts expect that Ciena Corporation will post $1.74 earnings per share for the current fiscal year.
In related news, CEO Gary B. Smith sold 8,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $21.50, for a total value of $172,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew C. Petrik sold 1,258 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.44, for a total transaction of $30,745.52. The disclosure for this sale can be found here. In the last three months, insiders sold 82,608 shares of company stock valued at $2,048,407. 1.45% of the stock is owned by insiders.
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Ciena Corporation Company Profile
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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