BidaskClub upgraded shares of Ciena Corporation (NYSE:CIEN) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday, October 25th.
Several other research analysts have also weighed in on the stock. MKM Partners reaffirmed a buy rating on shares of Ciena Corporation in a research note on Thursday, August 31st. William Blair reaffirmed an outperform rating on shares of Ciena Corporation in a research note on Thursday, August 31st. ValuEngine raised shares of Ciena Corporation from a hold rating to a buy rating in a research note on Thursday, July 6th. Northland Securities reissued a buy rating and issued a $30.00 price objective on shares of Ciena Corporation in a research note on Sunday, September 3rd. Finally, UBS AG set a $31.00 price objective on shares of Ciena Corporation and gave the company a buy rating in a research note on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $29.53.
Ciena Corporation (NYSE CIEN) traded up $0.37 during trading hours on Wednesday, reaching $19.94. 2,795,800 shares of the company’s stock were exchanged, compared to its average volume of 3,083,202. 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 firm has a market capitalization of $2,845.20, a PE ratio of 14.45, a PEG ratio of 0.74 and a beta of 1.64. Ciena Corporation has a 52 week low of $19.49 and a 52 week high of $27.98.
Ciena Corporation (NYSE:CIEN) last announced its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Ciena Corporation’s quarterly revenue was up 8.7% on a year-over-year basis. equities research analysts predict that Ciena Corporation will post 1.51 earnings per share for the current year.
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In related news, SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $20.46, for a total value of $40,920.00. The sale was disclosed in a filing 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 dated Tuesday, August 15th. The shares were 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. Insiders have sold a total of 80,310 shares of company stock valued at $1,756,224 in the last ninety days. Corporate insiders own 1.45% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CIEN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ciena Corporation by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 517 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in shares of Ciena Corporation during the 2nd quarter valued at about $134,000. Advisor Group Inc. increased its stake in shares of Ciena Corporation by 6.4% during the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after acquiring an additional 604 shares during the last quarter. Howe & Rusling Inc. acquired a new position in shares of Ciena Corporation during the 3rd quarter valued at about $158,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Ciena Corporation during the 2nd quarter valued at about $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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