Brokerages predict that Ciena Co. (NYSE:CIEN) will announce earnings per share (EPS) of $0.63 for the current quarter, according to Zacks. Seven analysts have issued estimates for Ciena’s earnings, with the lowest EPS estimate coming in at $0.59 and the highest estimate coming in at $0.68. Ciena posted earnings per share of $0.53 in the same quarter last year, which would suggest a positive year over year growth rate of 18.9%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, December 12th.
According to Zacks, analysts expect that Ciena will report full-year earnings of $2.16 per share for the current financial year, with EPS estimates ranging from $2.12 to $2.20. For the next year, analysts expect that the business will report earnings of $2.56 per share, with EPS estimates ranging from $2.36 to $2.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Ciena.
Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, September 5th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.21. Ciena had a return on equity of 13.64% and a net margin of 6.77%. The company had revenue of $960.60 million for the quarter, compared to analyst estimates of $930.64 million. During the same quarter last year, the company earned $0.48 EPS. Ciena’s revenue for the quarter was up 17.3% compared to the same quarter last year.
CIEN has been the topic of several recent analyst reports. Barclays increased their target price on Ciena from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Rosenblatt Securities raised Ciena from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $47.00 in a report on Thursday, August 29th. Morgan Stanley lifted their price target on Ciena from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. MKM Partners set a $51.00 price objective on Ciena and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Ciena in a report on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $48.48.
In other Ciena news, SVP Scott Mcfeely sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $39.73, for a total transaction of $39,730.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David M. Rothenstein sold 2,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $37.73, for a total value of $75,460.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,313 shares of company stock valued at $1,977,005. 1.20% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of Ciena by 1,791.1% during the third quarter. First Trust Advisors LP now owns 3,396,801 shares of the communications equipment provider’s stock valued at $133,257,000 after purchasing an additional 3,217,184 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Ciena in the second quarter valued at about $77,706,000. Ion Asset Management Ltd. bought a new stake in Ciena in the second quarter valued at about $74,161,000. Holocene Advisors LP acquired a new position in Ciena in the second quarter valued at about $53,362,000. Finally, FMR LLC lifted its stake in Ciena by 605.3% in the first quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock valued at $46,669,000 after buying an additional 1,072,632 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.
Shares of Ciena stock traded up $0.29 during trading on Friday, hitting $36.99. 70,945 shares of the stock were exchanged, compared to its average volume of 1,734,544. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.90 and a quick ratio of 2.45. The firm’s 50-day moving average price is $37.40 and its 200 day moving average price is $39.95. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. Ciena has a 12-month low of $30.67 and a 12-month high of $46.78.
Ciena Company Profile
Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
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