Somewhat Favorable News Coverage Somewhat Unlikely to Impact Ciena Corporation (NYSE:CIEN) Stock Price

Media coverage about Ciena Corporation (NYSE:CIEN) has been trending somewhat positive recently, Accern Sentiment reports. Accern identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ciena Corporation earned a media sentiment score of 0.14 on Accern’s scale. Accern also gave headlines about the communications equipment provider an impact score of 45.882655792095 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Here are some of the headlines that may have impacted Accern’s rankings:

CIEN has been the subject of several recent research reports. Needham & Company LLC upped their price objective on Ciena Corporation from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, June 2nd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Instinet reaffirmed a “buy” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Ciena Corporation in a research note on Thursday, April 27th. Finally, Zacks Investment Research downgraded Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Ciena Corporation presently has a consensus rating of “Buy” and a consensus price target of $30.19.

Shares of Ciena Corporation (CIEN) opened at 24.17 on Friday. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The stock’s 50 day moving average price is $25.58 and its 200 day moving average price is $24.51. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 31.93 and a beta of 1.61.

Ciena Corporation (NYSE:CIEN) last announced its quarterly earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. Ciena Corporation had a return on equity of 25.56% and a net margin of 4.13%. The company had revenue of $707.02 million during the quarter, compared to analyst estimates of $694.84 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. Analysts expect that Ciena Corporation will post $1.77 EPS for the current year.

In other news, VP Andrew C. Petrik sold 1,839 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $23.70, for a total value of $43,584.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $26.29, for a total value of $52,580.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,689 shares of company stock valued at $1,753,805. 1.45% of the stock is owned by corporate insiders.

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Ciena Corporation Company Profile

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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