News headlines about Ciena Corporation (NYSE:CIEN) have been trending somewhat positive on Tuesday, according to Accern Sentiment Analysis. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Ciena Corporation earned a daily sentiment score of 0.18 on Accern’s scale. Accern also assigned news articles about the communications equipment provider an impact score of 46.0483764344577 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the media stories that may have impacted Accern’s rankings:
- Small Cell Forum boosts membership to accelerate progress on 5G (totaltele.com)
- SCF boosts membership to accelerate 5G progress (globaltelecomsbusiness.com)
- James E. Moylan, Jr. Sells 2,000 Shares of Ciena Corporation (CIEN) Stock (americanbankingnews.com)
- Ciena Corporation (CIEN) is at $22.10 per share and ADTRAN, Inc. (ADTN) is listed at $24.50 – Stocks Gallery (stocksgallery.com)
- New study: Data center interconnect market worth 6.41 billion USD by 2023 (whatech.com)
Several analysts have issued reports on CIEN shares. TheStreet raised Ciena Corporation from a “c+” rating to a “b” rating in a research report on Monday, June 19th. Citigroup Inc. raised Ciena Corporation from a “neutral” rating to a “buy” rating and increased their target price for the company from $23.87 to $29.00 in a research report on Wednesday, August 30th. B. Riley reaffirmed a “buy” rating and set a $34.25 target price on shares of Ciena Corporation in a research report on Tuesday, August 29th. Northland Securities set a $32.00 target price on Ciena Corporation and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, William Blair reaffirmed a “buy” rating on shares of Ciena Corporation in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Ciena Corporation currently has a consensus rating of “Buy” and an average price target of $29.53.
Shares of Ciena Corporation (NYSE:CIEN) opened at 22.04 on Tuesday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 24.11 and a beta of 1.70. Ciena Corporation has a one year low of $18.94 and a one year high of $27.98. The stock’s 50 day moving average price is $22.31 and its 200 day moving average price is $23.86.
Ciena Corporation (NYSE:CIEN) last released its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The company had revenue of $728.70 million during the quarter, compared to the consensus estimate of $726.81 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Ciena Corporation’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current year.
In other Ciena Corporation news, VP David M. Rothenstein sold 2,000 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $25.69, for a total value of $51,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott Mcfeely sold 1,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $25.70, for a total transaction of $25,700.00. The disclosure for this sale can be found here. Insiders sold 88,310 shares of company stock valued at $2,047,414 in the last 90 days. 1.45% of the stock is currently 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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