Ciena (CIEN) to Release Earnings on Tuesday

Ciena (NYSE:CIEN) is expected to 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. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. 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 %

CIEN opened at $68.75 on Friday. The company’s 50 day moving average price is $84.29 and its two-hundred day moving average price is $73.01. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena has a fifty-two week low of $43.30 and a fifty-two week high of $101.44. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 120.62, a PEG ratio of 1.54 and a beta of 0.91.

Insider Activity at Ciena

In other Ciena news, SVP Jason Phipps sold 5,648 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.64, for a total transaction of $478,046.72. Following the transaction, the senior vice president now owns 109,878 shares in the company, valued at approximately $9,300,073.92. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the transaction, the senior vice president now owns 49,197 shares in the company, valued at approximately $4,435,601.52. The trade was a 0.71 % 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 quarter. Company insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

CIEN has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Ciena in a research note on Friday, January 10th. Rosenblatt Securities reduced their price objective on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays upped their price objective on shares of Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $84.00 to $88.00 in a research note on Tuesday, January 28th. Finally, Northland Securities upped their price objective on shares of Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, December 13th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. 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.