05 Jan Adv. Jonathan Cartu Announced – Ciena (NYSE:CIEN) Upgraded to “Hold” by ValuEngine
Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price objective on Ciena from $53.00 to $50.00 and set an overweight rating on the stock in a report on Friday, September 6th. Piper Jaffray Companies upgraded Ciena from a neutral rating to an overweight rating and lifted their target price for the company from $46.00 to $50.00 in a report on Thursday, December 12th. UBS Group cut Ciena from a neutral rating to a sell rating and reduced their target price for the company from $43.00 to $31.00 in a report on Friday, December 6th. B. Riley set a $56.00 target price on Ciena and gave the company a buy rating in a report on Friday, October 25th. Finally, MKM Partners set a $51.00 price objective on Ciena and gave the company a buy rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. Ciena has a consensus rating of Buy and a consensus price target of $48.65.
NYSE CIEN opened at $41.87 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.82 and a quick ratio of 2.41. The business has a 50 day moving average price of $39.30 and a 200 day moving average price of $40.33. The company has a market capitalization of $6.60 billion, a P/E ratio of 22.76, a PEG ratio of 1.08 and a beta of 1.11. Ciena has a 1-year low of $32.76 and a 1-year high of $46.78.
Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). Ciena had a return on equity of 13.67% and a net margin of 7.09%. The business had revenue of $968.00 million for the quarter, compared to analyst estimates of $966.28 million. During the same quarter last year, the business earned $0.53 EPS. Ciena’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts expect that Ciena will post 2.3 earnings per share for the current fiscal year.
In other Ciena news, VP Andrew C. Petrik sold 4,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $40.00, for a total transaction of $160,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary B. Smith sold 1,875 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $40.95, for a total transaction of $76,781.25. The disclosure for this sale can be found here. Insiders sold 99,762 shares of company stock worth $5,232,600 in the last ninety days. 1.20% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CIEN. First Trust Advisors LP grew its holdings in shares of Ciena by 1,791.1% during the 3rd quarter. First Trust Advisors LP now owns 3,396,801 shares of the communications equipment provider’s stock valued at $133,257,000 after acquiring an additional 3,217,184 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Ciena during the 2nd quarter valued at $77,706,000. Holocene Advisors LP purchased a new position in shares of Ciena during the 2nd quarter valued at $53,362,000. FMR LLC grew its holdings in shares of Ciena by 605.3% during the 1st quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock valued at $46,669,000 after acquiring an additional 1,072,632 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. purchased a new position in shares of Ciena during the 3rd quarter valued at $40,458,000. 91.05% of the stock is currently owned by institutional investors.
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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