Weekly Investment Analysts’ Ratings Updates for Ciena Corp. (CIEN)
Several analysts have recently updated their ratings and price targets for Ciena Corp. (NYSE: CIEN):
- 11/28/2016 – Ciena Corp. had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $30.00 price target on the stock.
- 11/15/2016 – Ciena Corp. had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co..
- 11/15/2016 – Ciena Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $25.25 price target on the stock.
- 11/14/2016 – Ciena Corp. was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating. They now have a $27.00 price target on the stock, up previously from $21.74.
- 11/1/2016 – Ciena Corp. was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Ciena is well positioned to benefit from rising demand for packet-optical transport and switching products, integrated network and service management software. The company has been diversifying by growing its footprint in data-center connectivity and software orientation, enhancing its reach into a broader end-to-end optical and data-equipment market. In the last reported quarter, revenues from non Telco infrastructure formed 37% of total revenues. Further, the Verizon project remains a long-term growth driver along with opportunities in DCI and submarine vertical. However, intensifying competition and customer concentration continue to be major concerns.”
- 10/7/2016 – Ciena Corp. had its “positive” rating reaffirmed by analysts at MKM Partners. They now have a $28.00 price target on the stock.
- 9/30/2016 – Ciena Corp. is now covered by analysts at Stifel Nicolaus. They set a “hold” rating and a $23.00 price target on the stock.
Ciena Corp. (NYSE:CIEN) traded up 1.843% on Tuesday, hitting $21.825. 1,383,416 shares of the stock traded hands. The firm’s 50-day moving average price is $20.85 and its 200-day moving average price is $20.41. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 134.722 and a beta of 1.72. Ciena Corp. has a 12-month low of $15.62 and a 12-month high of $25.31.
Ciena Corp. (NYSE:CIEN) last released its earnings results on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. The company had revenue of $670.60 million for the quarter, compared to analyst estimates of $672.23 million. Ciena Corp. had a net margin of 0.86% and a return on equity of 22.41%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. On average, equities research analysts anticipate that Ciena Corp. will post $1.43 EPS for the current fiscal year.
In other Ciena Corp. news, SVP Marcus H. Starke sold 3,164 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $23.01, for a total value of $72,803.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gary B. Smith sold 8,000 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $21.94, for a total transaction of $175,520.00. The disclosure for this sale can be found here. 1.72% of the stock is currently owned by company insiders.
Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The Company operates through four segments: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. Its Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network (OTN) switching and packet switching.
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