Recent Research Analysts’ Ratings Changes for Ciena (CIEN)

Posted by on Jun 6th, 2022

A number of research firms have changed their ratings and price targets for Ciena (NYSE: CIEN):

  • 6/3/2022 – Ciena had its price target lowered by analysts at Barclays PLC from $84.00 to $70.00. They now have an “overweight” rating on the stock.
  • 6/3/2022 – Ciena had its price target lowered by analysts at UBS Group AG from $66.00 to $51.00. They now have a “neutral” rating on the stock.
  • 6/3/2022 – Ciena had its price target lowered by analysts at Argus from $82.00 to $68.00. They now have a “buy” rating on the stock.
  • 6/3/2022 – Ciena had its price target lowered by analysts at Citigroup Inc. from $85.00 to $65.00. They now have a “buy” rating on the stock.
  • 6/3/2022 – Ciena was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $67.00 price target on the stock, up previously from $65.00.
  • 6/3/2022 – Ciena had its price target lowered by analysts at Evercore ISI to $60.00.
  • 5/25/2022 – Ciena had its price target lowered by analysts at Morgan Stanley from $67.00 to $64.00. They now have an “equal weight” rating on the stock.
  • 5/23/2022 – Ciena had its price target lowered by analysts at Rosenblatt Securities from $80.00 to $70.00. They now have a “buy” rating on the stock.
  • 4/12/2022 – Ciena had its price target lowered by analysts at Morgan Stanley from $74.00 to $67.00. They now have an “equal weight” rating on the stock.

Shares of Ciena stock opened at $48.74 on Monday. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.72 and a quick ratio of 3.56. Ciena Co. has a 52-week low of $46.60 and a 52-week high of $78.28. The stock has a 50-day simple moving average of $54.93 and a 200-day simple moving average of $62.63.

Ciena (NYSE:CIEN – Get Rating) last announced its quarterly earnings results on Thursday, June 2nd. The communications equipment provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The firm had revenue of $949.20 million for the quarter, compared to analyst estimates of $950.86 million. Ciena had a net margin of 11.15% and a return on equity of 12.18%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, equities research analysts predict that Ciena Co. will post 2.49 earnings per share for the current year.

In related news, Director Judith M. Obrien sold 2,839 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $61.40, for a total value of $174,314.60. Following the completion of the sale, the director now directly owns 68,341 shares in the company, valued at approximately $4,196,137.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary B. Smith sold 3,542 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $50.19, for a total value of $177,772.98. Following the completion of the sale, the chief executive officer now owns 443,924 shares of the company’s stock, valued at $22,280,545.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,828 shares of company stock valued at $1,732,259. Corporate insiders own 0.94% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. increased its position in Ciena by 32.9% in the 4th quarter. First Horizon Advisors Inc. now owns 744 shares of the communications equipment provider’s stock worth $57,000 after buying an additional 184 shares during the period. Aurora Investment Counsel increased its position in Ciena by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 31,911 shares of the communications equipment provider’s stock worth $1,639,000 after buying an additional 195 shares during the period. Synovus Financial Corp increased its position in shares of Ciena by 2.5% during the fourth quarter. Synovus Financial Corp now owns 7,960 shares of the communications equipment provider’s stock valued at $613,000 after purchasing an additional 195 shares during the period. CIBC Asset Management Inc increased its position in shares of Ciena by 3.3% during the fourth quarter. CIBC Asset Management Inc now owns 6,248 shares of the communications equipment provider’s stock valued at $481,000 after purchasing an additional 202 shares during the period. Finally, Lindenwold Advisors increased its position in shares of Ciena by 6.3% during the first quarter. Lindenwold Advisors now owns 3,650 shares of the communications equipment provider’s stock valued at $221,000 after purchasing an additional 216 shares during the period. 88.75% of the stock is currently owned by institutional investors.

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.

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