Ciena Co. (NYSE:CIEN) SVP Jason Phipps sold 1,581 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $30.98, for a total transaction of $48,979.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
CIEN opened at $30.89 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33. Ciena Co. has a 12 month low of $19.40 and a 12 month high of $32.33. The firm has a market capitalization of $4.47 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.85 and a beta of 1.36.
Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The firm had revenue of $818.82 million for the quarter, compared to analysts’ expectations of $792.28 million. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. equities analysts forecast that Ciena Co. will post 1.09 EPS for the current year.
A number of large investors have recently modified their holdings of CIEN. Prudential Financial Inc. lifted its position in Ciena by 22.4% during the 1st quarter. Prudential Financial Inc. now owns 118,415 shares of the communications equipment provider’s stock worth $3,067,000 after buying an additional 21,686 shares in the last quarter. Swiss National Bank lifted its position in Ciena by 2.3% during the 1st quarter. Swiss National Bank now owns 247,200 shares of the communications equipment provider’s stock worth $6,402,000 after buying an additional 5,600 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Ciena by 2.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 983,372 shares of the communications equipment provider’s stock worth $25,470,000 after buying an additional 26,103 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Ciena during the 1st quarter worth about $568,000. Finally, Northern Trust Corp lifted its position in Ciena by 1.1% during the 1st quarter. Northern Trust Corp now owns 2,205,450 shares of the communications equipment provider’s stock worth $57,122,000 after buying an additional 24,421 shares in the last quarter.
Several equities analysts have recently issued reports on the stock. MED lowered shares of Ciena from a “buy” rating to a “$26.20” rating and decreased their price target for the company from $29.00 to $27.00 in a report on Wednesday, July 18th. They noted that the move was a valuation call. UBS Group lowered shares of Ciena from a “buy” rating to a “neutral” rating and boosted their price target for the company from $29.50 to $33.00 in a report on Wednesday. BMO Capital Markets cut their price objective on shares of Ciena from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, June 1st. B. Riley boosted their price objective on shares of Ciena from $31.00 to $31.50 and gave the company a “buy” rating in a research report on Friday, June 1st. Finally, Rosenblatt Securities cut shares of Ciena from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $32.57.
Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data 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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