Ciena (CIEN) Projected to Post Earnings on Tuesday

Ciena (NYSE:CIEN) is anticipated to release its earnings data before the market opens on Tuesday, March 11th. Analysts expect Ciena to post earnings of $0.41 per share and revenue of $1.05 billion for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. Ciena’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. On average, analysts expect Ciena to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ciena Price Performance

Shares of NYSE CIEN opened at $68.75 on Monday. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 120.62, a PEG ratio of 1.54 and a beta of 0.91. The business has a 50-day moving average of $84.29 and a 200-day moving average of $73.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena has a fifty-two week low of $43.30 and a fifty-two week high of $101.44.

Insider Transactions at Ciena

In other news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the sale, the senior vice president now directly owns 49,547 shares in the company, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jason Phipps sold 5,648 shares of Ciena stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.64, for a total transaction of $478,046.72. Following the completion of the sale, the senior vice president now owns 109,878 shares of the company’s stock, valued at approximately $9,300,073.92. The trade was a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,442 shares of company stock worth $5,337,764 over the last quarter. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Northland Securities lifted their price target on Ciena from $46.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, December 13th. Rosenblatt Securities reduced their price target on Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a report on Friday. Citigroup lifted their price target on Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $82.00 price target (up previously from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.62.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.