Ciena (CIEN) to Release Earnings on Wednesday

Ciena (NYSE:CIEN) is scheduled to post its quarterly earnings results before the market opens on Wednesday, September 4th. Analysts expect Ciena to post earnings of $0.26 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $910.80 million during the quarter, compared to analysts’ expectations of $895.80 million. Ciena had a return on equity of 7.16% and a net margin of 3.71%. The firm’s revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, analysts expect Ciena to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ciena Stock Performance

CIEN opened at $57.02 on Wednesday. Ciena has a 12-month low of $39.94 and a 12-month high of $63.24. The firm has a market capitalization of $8.19 billion, a P/E ratio of 54.83, a price-to-earnings-growth ratio of 5.35 and a beta of 0.94. The stock’s 50 day moving average price is $49.82 and its two-hundred day moving average price is $49.92. The company has a quick ratio of 2.76, a current ratio of 3.88 and a debt-to-equity ratio of 0.53.

Insider Transactions at Ciena

In other news, CEO Gary B. Smith sold 4,166 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $47.99, for a total value of $199,926.34. Following the transaction, the chief executive officer now directly owns 372,611 shares of the company’s stock, valued at approximately $17,881,601.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ciena news, SVP Jason Phipps sold 2,712 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $48.29, for a total value of $130,962.48. Following the completion of the transaction, the senior vice president now directly owns 96,000 shares of the company’s stock, valued at $4,635,840. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gary B. Smith sold 4,166 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $47.99, for a total transaction of $199,926.34. Following the completion of the transaction, the chief executive officer now owns 372,611 shares of the company’s stock, valued at approximately $17,881,601.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,378 shares of company stock valued at $501,724. Corporate insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CIEN shares. Rosenblatt Securities boosted their price target on Ciena from $52.50 to $54.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. B. Riley lowered their price objective on Ciena from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Morgan Stanley raised Ciena from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $53.00 to $55.00 in a research report on Wednesday, June 12th. Raymond James lowered shares of Ciena from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $59.00 to $54.00 in a report on Thursday, June 6th. Finally, Needham & Company LLC raised their price objective on shares of Ciena from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.25.

About Ciena

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.