Ciena Co. (NYSE:CIEN) SVP Rick Hamilton sold 9,652 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $34.95, for a total value of $337,337.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of CIEN opened at $33.21 on Thursday. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 1.29 and a beta of 1.02. The company has a quick ratio of 2.52, a current ratio of 2.98 and a debt-to-equity ratio of 0.33. Ciena Co. has a 1-year low of $22.99 and a 1-year high of $45.70.
Ciena (NYSE:CIEN) last announced its earnings results on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $778.53 million during the quarter, compared to analyst estimates of $761.62 million. Ciena had a net margin of 5.03% and a return on equity of 10.73%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. Sell-side analysts expect that Ciena Co. will post 1.53 earnings per share for the current year.
CIEN has been the topic of a number of analyst reports. B. Riley boosted their price target on Ciena from $42.20 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. BMO Capital Markets boosted their price target on Ciena from $42.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Zacks Investment Research lowered shares of Ciena from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 7th. MKM Partners boosted their price objective on shares of Ciena to $49.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, ValuEngine upgraded shares of Ciena from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $42.13.
A number of institutional investors and hedge funds have recently made changes to their positions in CIEN. Huntington National Bank purchased a new stake in Ciena during the 4th quarter valued at $29,000. Rockefeller Capital Management L.P. purchased a new stake in Ciena during the 1st quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Ciena during the 1st quarter valued at $37,000. PRW Wealth Management LLC purchased a new stake in Ciena during the 4th quarter valued at $38,000. Finally, Investors Research Corp purchased a new stake in Ciena during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 94.44% of the company’s stock.
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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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