04 Jan Dr. Jonathan Cartu Reports – Brokers Offer Predictions for Ciena Co.’s Q4 2020 Earnings…
Ciena Co. (NYSE:CIEN) – Analysts at Piper Jaffray Companies lowered their Q4 2020 earnings per share estimates for shares of Ciena in a note issued to investors on Monday, December 9th, according to Zacks Investment Research. Piper Jaffray Companies analyst T. Jensen now forecasts that the communications equipment provider will post earnings of $0.76 per share for the quarter, down from their prior forecast of $0.82. Piper Jaffray Companies has a “Overweight” rating and a $50.00 price objective on the stock.
Several other research firms have also recently commented on CIEN. ValuEngine upgraded shares of Ciena from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Dougherty & Co upped their target price on shares of Ciena from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. UBS Group cut shares of Ciena from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $43.00 to $31.00 in a report on Friday, December 6th. B. Riley set a $56.00 price objective on shares of Ciena and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Evercore ISI reiterated a “buy” rating and issued a $48.00 price objective on shares of Ciena in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.65.
Shares of NYSE:CIEN traded down $0.99 during trading on Wednesday, reaching $41.87. 1,354,697 shares of the company’s stock traded hands, compared to its average volume of 1,412,600. Ciena has a 12 month low of $32.76 and a 12 month high of $46.78. 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 stock has a market capitalization of $6.58 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 1.07 and a beta of 1.11. The company has a 50 day moving average of $39.21 and a 200-day moving average of $40.34.
Ciena (NYSE:CIEN) last issued its earnings results on Thursday, December 12th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The company had revenue of $968.00 million during the quarter, compared to analyst estimates of $966.28 million. Ciena had a net margin of 7.09% and a return on equity of 13.67%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS.
In related news, VP Andrew C. Petrik sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.00, for a total value of $160,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Michael Nevens sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $37.75, for a total transaction of $75,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,762 shares of company stock valued at $5,232,600. 1.20% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CIEN. FMR LLC lifted its position in Ciena by 605.3% in the 1st quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock worth $46,669,000 after buying an additional 1,072,632 shares in the last quarter. Creative Planning increased its stake in shares of Ciena by 3.8% during the 2nd quarter. Creative Planning now owns 8,152 shares of the communications equipment provider’s stock worth $335,000 after purchasing an additional 302 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Ciena during the 2nd quarter worth $509,000. SG Americas Securities LLC increased its stake in shares of Ciena by 29.2% during the 2nd quarter. SG Americas Securities LLC now owns 15,554 shares of the communications equipment provider’s stock worth $640,000 after purchasing an additional 3,519 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Ciena by 332.1% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 105,312 shares of the communications equipment provider’s stock worth $4,331,000 after purchasing an additional 80,940 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.
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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