Ciena (CIEN) Projected to Post Earnings on Tuesday

Ciena (NYSE:CIEN) will likely be posting its quarterly earnings results before the market opens on Tuesday, March 11th. Analysts expect Ciena to post earnings of $0.41 per share and revenue of $1.05 billion for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $0.56 EPS. On average, analysts expect Ciena to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ciena Trading Up 0.5 %

Ciena stock opened at $68.75 on Monday. The business has a 50 day moving average price of $84.29 and a two-hundred day moving average price of $73.14. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 120.62, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. Ciena has a 12 month low of $43.30 and a 12 month high of $101.44.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the sale, the senior vice president now owns 49,547 shares of the company’s stock, valued at approximately $4,256,582.77. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary B. Smith sold 6,800 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $76.41, for a total value of $519,588.00. Following the sale, the chief executive officer now directly owns 398,549 shares in the company, valued at $30,453,129.09. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,442 shares of company stock worth $5,337,764 in the last three months. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Ciena from $67.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Northland Securities increased their target price on Ciena from $46.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, December 13th. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and increased their target price for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Citigroup increased their target price on Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price on shares of Ciena in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Ciena presently has an average rating of “Moderate Buy” and a consensus price target of $77.62.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.