Brokerages Anticipate Ciena Co. (NYSE:CIEN) to Announce $0.54 Earnings Per Share

Wall Street analysts predict that Ciena Co. (NYSE:CIENGet Rating) will report $0.54 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Ciena’s earnings, with the highest EPS estimate coming in at $0.58 and the lowest estimate coming in at $0.51. Ciena reported earnings per share of $0.62 in the same quarter last year, which suggests a negative year-over-year growth rate of 12.9%. The company is expected to announce its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Ciena will report full-year earnings of $3.01 per share for the current year, with EPS estimates ranging from $2.89 to $3.25. For the next financial year, analysts expect that the company will post earnings of $3.78 per share, with EPS estimates ranging from $3.54 to $4.04. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ciena.

Ciena (NYSE:CIENGet Rating) last posted its quarterly earnings results on Monday, March 7th. The communications equipment provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Ciena had a return on equity of 13.17% and a net margin of 13.23%. The business had revenue of $844.40 million for the quarter, compared to analyst estimates of $845.14 million. During the same period last year, the firm posted $0.42 EPS. Ciena’s quarterly revenue was up 11.5% on a year-over-year basis.

A number of equities analysts have issued reports on CIEN shares. Morgan Stanley lowered their target price on Ciena from $74.00 to $67.00 and set an “equal weight” rating for the company in a report on Tuesday, April 12th. StockNews.com started coverage on Ciena in a report on Thursday, March 31st. They issued a “hold” rating for the company. Raymond James lowered their target price on Ciena from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, March 8th. Loop Capital increased their price target on Ciena from $87.00 to $92.00 in a research note on Wednesday, February 16th. Finally, UBS Group began coverage on Ciena in a research note on Tuesday, April 5th. They issued a “neutral” rating and a $66.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $77.63.

Shares of Ciena stock traded down $1.32 during trading on Tuesday, reaching $48.87. 935,580 shares of the company’s stock were exchanged, compared to its average volume of 1,573,051. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.56 and a current ratio of 4.16. Ciena has a 1-year low of $48.16 and a 1-year high of $78.28. The company has a market cap of $7.43 billion, a P/E ratio of 15.61, a PEG ratio of 1.33 and a beta of 0.86. The firm’s 50-day moving average price is $56.51 and its 200 day moving average price is $63.30.

In related news, SVP Scott Mcfeely sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $54.20, for a total transaction of $271,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David M. Rothenstein sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $54.11, for a total value of $189,385.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,286 shares of company stock worth $1,554,486. Corporate insiders own 0.94% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Ciena by 605.3% in the first quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock worth $46,669,000 after acquiring an additional 1,072,632 shares during the period. Morgan Stanley boosted its position in shares of Ciena by 27.8% in the 2nd quarter. Morgan Stanley now owns 1,228,966 shares of the communications equipment provider’s stock worth $69,915,000 after purchasing an additional 267,539 shares in the last quarter. Truist Financial Corp boosted its position in shares of Ciena by 4.8% in the 3rd quarter. Truist Financial Corp now owns 32,575 shares of the communications equipment provider’s stock worth $1,673,000 after purchasing an additional 1,483 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Ciena by 483.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 560 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 464 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Ciena by 8.1% in the 3rd quarter. CIBC Asset Management Inc now owns 6,046 shares of the communications equipment provider’s stock valued at $310,000 after acquiring an additional 455 shares in the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Ciena Company Profile (Get Rating)

Ciena Corporation provides network hardware, software, and services that support the transport, routing, 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 products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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