11 Aug CTO Jonathan Cartu Claims – Andrew C. Petrik Sells 2,000 Shares of Ciena Co….
Ciena Co. (NYSE:CIEN) VP Andrew C. Petrik sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $44.29, for a total transaction of $88,580.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE:CIEN traded down $0.23 on Friday, reaching $43.65. The company’s stock had a trading volume of 1,787,274 shares, compared to its average volume of 1,957,000. Ciena Co. has a 52-week low of $25.71 and a 52-week high of $46.78. The company has a market cap of $6.81 billion, a P/E ratio of 38.97, a P/E/G ratio of 1.46 and a beta of 1.11. The business has a 50-day moving average price of $43.48. The company has a current ratio of 2.83, a quick ratio of 2.36 and a debt-to-equity ratio of 0.33.
Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The business had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $818.23 million. During the same period last year, the company posted $0.23 EPS. The business’s revenue was up 18.5% on a year-over-year basis. Equities research analysts predict that Ciena Co. will post 1.74 earnings per share for the current fiscal year.
Several research firms have weighed in on CIEN. MKM Partners increased their price target on shares of Ciena to $54.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Stifel Nicolaus increased their price target on shares of Ciena from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Piper Jaffray Companies increased their price target on shares of Ciena from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, June 6th. Barclays began coverage on shares of Ciena in a research report on Wednesday. They issued an “overweight” rating and a $50.00 price target on the stock. Finally, TheStreet upgraded shares of Ciena from a “c+” rating to a “b” rating in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ciena has a consensus rating of “Buy” and a consensus target price of $46.79.
Hedge funds have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC boosted its stake in shares of Ciena by 98.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 320 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Ciena in the 1st quarter valued at about $37,000. Coastal Capital Group Inc. bought a new stake in shares of Ciena in the 2nd quarter valued at about $41,000. Investors Research Corp bought a new position in shares of Ciena during the 1st quarter worth approximately $39,000. Finally, FinTrust Capital Advisors LLC bought a new position in shares of Ciena during the 1st quarter worth approximately $57,000. 93.92% of the stock is owned by hedge funds and other institutional investors.
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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