Ciena Co. (NYSE:CIEN – Get Free Report) CEO Gary B. Smith sold 4,166 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $44.80, for a total value of $186,636.80. Following the completion of the sale, the chief executive officer now directly owns 385,109 shares of the company’s stock, valued at $17,252,883.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Ciena Price Performance
Ciena stock opened at $44.78 on Thursday. Ciena Co. has a one year low of $39.94 and a one year high of $63.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.12 and a current ratio of 4.29. The business has a fifty day moving average of $52.30 and a two-hundred day moving average of $48.22. The company has a market cap of $6.48 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99.
Ciena (NYSE:CIEN – Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.18. Ciena had a return on equity of 9.92% and a net margin of 5.22%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, analysts predict that Ciena Co. will post 1.46 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Analyst Ratings Changes
CIEN has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Ciena from $56.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Evercore ISI increased their price objective on Ciena from $57.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. BNP Paribas assumed coverage on Ciena in a report on Thursday, April 11th. They issued an “outperform” rating and a $57.00 price objective for the company. StockNews.com raised Ciena from a “sell” rating to a “hold” rating in a report on Friday, March 8th. Finally, Citigroup assumed coverage on Ciena in a report on Friday, April 12th. They set a “sell” rating and a $44.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.79.
View Our Latest Research Report on Ciena
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.
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