Ciena (CIEN) to Release Earnings on Thursday

Ciena (NYSE:CIENGet Free Report) is scheduled to be posting its 01/31/2024 quarterly earnings results before the market opens on Thursday, March 7th. Analysts expect Ciena to post earnings of $0.46 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Ciena (NYSE:CIENGet Free Report) last released its quarterly earnings results on Thursday, December 7th. The communications equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Ciena had a net margin of 5.81% and a return on equity of 10.28%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm earned $0.49 EPS. Ciena’s revenue was up 16.4% on a year-over-year basis. On average, analysts expect Ciena to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ciena Stock Performance

Shares of CIEN opened at $62.47 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.71 and a current ratio of 3.84. The company has a market capitalization of $9.06 billion, a PE ratio of 36.53, a PEG ratio of 1.94 and a beta of 1.01. The company’s 50 day moving average price is $52.23 and its 200 day moving average price is $47.42. Ciena has a 52 week low of $39.94 and a 52 week high of $63.24.

Insider Buying and Selling

In related news, CEO Gary B. Smith sold 8,332 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $56.86, for a total value of $473,757.52. Following the completion of the transaction, the chief executive officer now owns 415,674 shares of the company’s stock, valued at approximately $23,635,223.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ciena news, CEO Gary B. Smith sold 8,332 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $56.86, for a total transaction of $473,757.52. Following the completion of the transaction, the chief executive officer now owns 415,674 shares of the company’s stock, valued at $23,635,223.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David M. Rothenstein sold 3,500 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $44.40, for a total value of $155,400.00. Following the completion of the sale, the senior vice president now directly owns 246,095 shares of the company’s stock, valued at approximately $10,926,618. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,242 shares of company stock valued at $5,642,792. 0.83% of the stock is owned by company insiders.

Institutional Trading of Ciena

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Ciena by 5.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 100,881 shares of the communications equipment provider’s stock valued at $4,541,000 after buying an additional 5,103 shares in the last quarter. Systematic Portfolios LLC acquired a new stake in Ciena in the fourth quarter valued at $204,000. Barclays PLC raised its stake in Ciena by 32.9% in the fourth quarter. Barclays PLC now owns 351,251 shares of the communications equipment provider’s stock valued at $15,809,000 after buying an additional 86,986 shares in the last quarter. Needham Investment Management LLC acquired a new stake in Ciena in the fourth quarter valued at $2,250,000. Finally, Prelude Capital Management LLC acquired a new stake in Ciena in the fourth quarter valued at $518,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on CIEN shares. Raymond James lowered their price target on shares of Ciena from $63.00 to $60.00 and set a “strong-buy” rating on the stock in a report on Friday, December 8th. B. Riley boosted their target price on shares of Ciena from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Evercore ISI boosted their target price on Ciena from $57.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. TheStreet upgraded Ciena from a “c” rating to a “b-” rating in a report on Thursday, December 7th. Finally, Barclays raised their target price on Ciena from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.57.

Check Out Our Latest Analysis on Ciena

About Ciena

(Get Free Report)

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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Earnings History for Ciena (NYSE:CIEN)

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