News headlines about Ciena (NYSE:CIEN) have trended positive on Saturday, Alpha One reports. Alpha One, a subsidiary of Accern, ranks the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Alpha One ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ciena earned a news impact score of 0.26 on Alpha One’s scale. Alpha One also assigned news stories about the communications equipment provider an impact score of 76 out of 100, indicating that recent press coverage is likely to have an effect on the company’s share price in the next several days.
Here are some of the news stories that may have impacted Alpha One’s analysis:
- Cisco’s Soggy Outlook Tests Patience with the Transformation (barrons.com)
- Ciena Co. (CIEN) VP Sells $48,380.00 in Stock (americanbankingnews.com)
- Ciena Co. (CIEN) SVP Scott Mcfeely Sells 1,000 Shares (americanbankingnews.com)
- Ciena Co. (CIEN) VP Andrew C. Petrik Sells 1,839 Shares (americanbankingnews.com)
- The Favorable Press Coverage Somewhat Unlikely to Affect Ciena (CIEN) Share Price – BangaloreWeekly (bangaloreweekly.com)
Several brokerages recently commented on CIEN. B. Riley reiterated a “buy” rating and set a $33.75 price target on shares of Ciena in a report on Monday, March 6th. Wells Fargo & Co restated an “outperform” rating and issued a $31.00 target price on shares of Ciena in a research note on Saturday, March 11th. MKM Partners restated a “buy” rating and issued a $30.00 target price on shares of Ciena in a research note on Monday, March 13th. Bank of America Corp downgraded shares of Ciena from a “buy” rating to a “neutral” rating and upped their target price for the stock from $26.39 to $28.00 in a research note on Friday, March 3rd. They noted that the move was a valuation call. Finally, BMO Capital Markets restated an “outperform” rating and issued a $30.00 target price on shares of Ciena in a research note on Saturday, March 11th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $28.13.
Shares of Ciena (NYSE:CIEN) opened at 22.95 on Friday. The stock has a 50 day moving average of $22.72 and a 200-day moving average of $23.42. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 37.68 and a beta of 1.66. Ciena has a 1-year low of $16.03 and a 1-year high of $26.84.
Ciena (NYSE:CIEN) last posted its earnings results on Wednesday, March 8th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $621.50 million during the quarter, compared to the consensus estimate of $632.29 million. Ciena had a net margin of 2.79% and a return on equity of 23.37%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. Equities analysts anticipate that Ciena will post $1.69 EPS for the current fiscal year.
In related news, VP David M. Rothenstein sold 2,000 shares of Ciena stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $24.19, for a total transaction of $48,380.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew C. Petrik sold 1,839 shares of Ciena stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $23.70, for a total transaction of $43,584.30. The disclosure for this sale can be found here. Insiders sold 73,841 shares of company stock worth $1,721,348 over the last quarter. 1.45% of the stock is currently owned by company insiders.
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Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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