Ciena Co. (NYSE:CIEN – Get Rating) SVP Stephen B. Alexander sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $42.37, for a total value of $84,740.00. Following the completion of the transaction, the senior vice president now directly owns 26,535 shares of the company’s stock, valued at $1,124,287.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Ciena Trading Down 1.5 %
Shares of Ciena stock opened at $41.23 on Tuesday. The company has a 50 day simple moving average of $49.50 and a two-hundred day simple moving average of $51.71. The firm has a market cap of $6.11 billion, a PE ratio of 32.46, a PEG ratio of 2.94 and a beta of 0.91. Ciena Co. has a 1 year low of $41.06 and a 1 year high of $78.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.48 and a quick ratio of 2.58.
Ciena (NYSE:CIEN – Get Rating) last released its earnings results on Thursday, September 1st. The communications equipment provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Ciena had a net margin of 5.37% and a return on equity of 8.91%. The firm had revenue of $867.30 million during the quarter, compared to the consensus estimate of $903.95 million. During the same period in the prior year, the company earned $0.81 EPS. The firm’s revenue was down 12.2% compared to the same quarter last year. Analysts expect that Ciena Co. will post 0.95 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Ciena
Wall Street Analyst Weigh In
CIEN has been the topic of several research analyst reports. Barclays cut their price objective on Ciena from $70.00 to $55.00 in a research report on Friday, September 2nd. Loop Capital lowered their price objective on shares of Ciena from $92.00 to $84.00 and set a “buy” rating on the stock in a research report on Monday, June 6th. MKM Partners assumed coverage on shares of Ciena in a research note on Thursday, August 4th. They set a “buy” rating and a $62.00 price target for the company. TheStreet downgraded Ciena from a “b-” rating to a “c” rating in a research note on Thursday, September 1st. Finally, UBS Group reduced their price objective on Ciena from $66.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, June 3rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.32.
Ciena Company Profile
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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