Ciena Co. (NYSE:CIEN – Get Rating) CEO Gary B. Smith sold 3,542 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $50.19, for a total transaction of $177,772.98. Following the sale, the chief executive officer now directly owns 443,924 shares of the company’s stock, valued at approximately $22,280,545.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
CIEN stock traded up $0.71 during trading on Wednesday, reaching $49.58. 1,402,113 shares of the stock were exchanged, compared to its average volume of 1,571,341. Ciena Co. has a twelve month low of $48.16 and a twelve month high of $78.28. The company has a market capitalization of $7.54 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.33 and a beta of 0.86. The stock has a 50 day simple moving average of $56.33 and a 200-day simple moving average of $63.20. The company has a current ratio of 4.16, a quick ratio of 3.56 and a debt-to-equity ratio of 0.38.
Ciena (NYSE:CIEN – Get Rating) last released its earnings results on Monday, March 7th. The communications equipment provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $844.40 million for the quarter, compared to analyst estimates of $845.14 million. Ciena had a return on equity of 13.17% and a net margin of 13.23%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share. Equities analysts predict that Ciena Co. will post 2.49 EPS for the current year.
CIEN has been the subject of a number of analyst reports. Raymond James reduced their price target on Ciena from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, March 8th. Rosenblatt Securities lowered their target price on shares of Ciena from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday. UBS Group began coverage on Ciena in a research report on Tuesday, April 5th. They set a “neutral” rating and a $66.00 price target on the stock. StockNews.com began coverage on Ciena in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Loop Capital boosted their price objective on Ciena from $87.00 to $92.00 in a report on Wednesday, February 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $77.44.
About Ciena (Get Rating)
Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
- Get a free copy of the StockNews.com research report on Ciena (CIEN)
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