Ciena Co. (NYSE:CIEN – Get Free Report) SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.24, for a total value of $196,840.00. Following the sale, the senior vice president now owns 205,421 shares in the company, valued at approximately $11,552,877.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Ciena Trading Down 0.1 %
Shares of CIEN stock opened at $56.41 on Thursday. The company has a market cap of $8.11 billion, a P/E ratio of 54.24, a PEG ratio of 6.86 and a beta of 0.94. Ciena Co. has a fifty-two week low of $39.94 and a fifty-two week high of $63.24. The stock has a 50 day simple moving average of $52.07 and a two-hundred day simple moving average of $49.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.99 and a current ratio of 4.06.
Ciena (NYSE:CIEN – Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The communications equipment provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.09. Ciena had a net margin of 3.44% and a return on equity of 5.98%. The firm had revenue of $942.30 million for the quarter, compared to analyst estimates of $928.31 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts forecast that Ciena Co. will post 1.15 earnings per share for the current year.
Institutional Investors Weigh In On Ciena
Analyst Ratings Changes
CIEN has been the topic of a number of recent research reports. Barclays lifted their price target on Ciena from $55.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Morgan Stanley lifted their target price on shares of Ciena from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Raymond James cut shares of Ciena from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $59.00 to $54.00 in a research report on Thursday, June 6th. Bank of America reiterated a “neutral” rating and set a $59.00 price target on shares of Ciena in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. decreased their price objective on Ciena from $67.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.15.
View Our Latest Stock Analysis on Ciena
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.
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