News articles about Ciena (NYSE:CIEN) have trended somewhat positive this week, Accern Sentiment reports. The research firm ranks the sentiment of press coverage by analyzing more than twenty million blog and news 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 earned a media sentiment score of 0.22 on Accern’s scale. Accern also gave news articles about the communications equipment provider an impact score of 46.4312944841224 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the news articles that may have effected Accern Sentiment’s rankings:
- Insider Selling: Ciena Co. (CIEN) SVP Sells 1,000 Shares of Stock (americanbankingnews.com)
- Insider Selling: Ciena Co. (CIEN) VP Sells 2,000 Shares of Stock (americanbankingnews.com)
- Zacks: Brokerages Expect Ciena Co. (CIEN) to Post $0.30 Earnings Per Share (americanbankingnews.com)
- 3 Takeaways from Ciena's Strong Earnings Report (finance.yahoo.com)
- Ciena solutions tackle fiber densification challenges, create more adaptive networks (financial-news.co.uk)
Shares of CIEN stock opened at $26.60 on Wednesday. The company has a market cap of $3,925.49, a P/E ratio of 5.70, a P/E/G ratio of 1.63 and a beta of 1.51. The company has a quick ratio of 1.79, a current ratio of 2.06 and a debt-to-equity ratio of 0.33. Ciena has a fifty-two week low of $19.40 and a fifty-two week high of $27.98.
Ciena (NYSE:CIEN) last released its earnings results on Tuesday, March 6th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08. The business had revenue of $646.14 million for the quarter, compared to the consensus estimate of $641.77 million. Ciena had a net margin of 27.76% and a return on equity of 14.10%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. analysts predict that Ciena will post 1.08 earnings per share for the current fiscal year.
Ciena declared that its board has authorized a stock repurchase program on Thursday, December 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of analysts have commented on CIEN shares. MKM Partners boosted their price target on shares of Ciena to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 7th. B. Riley dropped their price target on shares of Ciena from $30.50 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, December 5th. Goldman Sachs upgraded shares of Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, January 15th. Northland Securities restated a “buy” rating and set a $34.00 price target on shares of Ciena in a research report on Monday. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $27.00 price target (up from $22.00) on shares of Ciena in a research report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Ciena has a consensus rating of “Buy” and a consensus target price of $29.81.
In other news, CEO Gary B. Smith sold 8,000 shares of Ciena stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $27.16, for a total value of $217,280.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Scott Mcfeely sold 1,000 shares of Ciena stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $26.95, for a total transaction of $26,950.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 229,743 shares of company stock worth $5,018,761. 1.38% of the stock is currently owned by insiders.
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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