$0.48 Earnings Per Share Expected for Ciena Co. (CIEN) This Quarter

Brokerages predict that Ciena Co. (NYSE:CIEN) will report earnings of $0.48 per share for the current quarter, Zacks reports. Eight analysts have made estimates for Ciena’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.54. Ciena reported earnings per share of $0.46 during the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The company is expected to issue its next earnings report on Thursday, December 6th.

On average, analysts expect that Ciena will report full-year earnings of $1.36 per share for the current financial year, with EPS estimates ranging from $1.33 to $1.41. For the next fiscal year, analysts forecast that the firm will report earnings of $1.80 per share, with EPS estimates ranging from $1.34 to $2.23. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Ciena.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The business had revenue of $818.82 million for the quarter, compared to analyst estimates of $792.28 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Ciena’s revenue was up 12.4% compared to the same quarter last year.

Several equities research analysts have issued reports on CIEN shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $39.00 price target on shares of Ciena in a report on Friday, August 31st. William Blair reissued a “buy” rating on shares of Ciena in a report on Friday, August 31st. Jefferies Financial Group reaffirmed a “sell” rating on shares of Ciena in a report on Friday, August 31st. Argus upped their target price on shares of Ciena to $38.00 and gave the stock an “average” rating in a report on Wednesday, September 5th. They noted that the move was a valuation call. Finally, Northland Securities downgraded shares of Ciena from an “outperform” rating to a “market perform” rating in a research report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. Ciena currently has an average rating of “Buy” and an average target price of $32.74.

In related news, CEO Gary B. Smith sold 9,600 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $31.65, for a total transaction of $303,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $31.75, for a total value of $63,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,812 shares of company stock worth $2,485,482. Corporate insiders own 1.38% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in Ciena by 36,042.9% during the 2nd quarter. Parallel Advisors LLC now owns 5,060 shares of the communications equipment provider’s stock worth $134,000 after purchasing an additional 5,046 shares in the last quarter. CenterStar Asset Management LLC bought a new stake in Ciena during the 3rd quarter worth approximately $159,000. Signaturefd LLC increased its stake in Ciena by 484.4% during the 2nd quarter. Signaturefd LLC now owns 5,534 shares of the communications equipment provider’s stock worth $147,000 after purchasing an additional 4,587 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in Ciena by 102.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 6,140 shares of the communications equipment provider’s stock worth $163,000 after purchasing an additional 3,100 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Ciena during the 3rd quarter worth approximately $198,000.

CIEN stock traded down $0.24 on Monday, reaching $34.43. 3,926,507 shares of the company were exchanged, compared to its average volume of 3,647,314. Ciena has a 12 month low of $19.40 and a 12 month high of $35.04. The firm has a market capitalization of $4.95 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33.

Ciena Company Profile

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data 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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