Ciena (CIEN) to Release Earnings on Tuesday

Ciena (NYSE:CIEN) is expected to release its earnings data before the market opens on Tuesday, March 11th. Analysts expect Ciena to post earnings of $0.41 per share and revenue of $1.05 billion for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The company’s revenue was down .5% 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 Trading Up 0.5 %

Shares of NYSE:CIEN opened at $68.75 on Friday. Ciena has a 12 month low of $43.30 and a 12 month high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $84.29 and its 200 day simple moving average is $73.01. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 120.62, a PEG ratio of 1.54 and a beta of 0.91.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CIEN. Stifel Nicolaus restated a “buy” rating and set a $82.00 price objective (up from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 target price on shares of Ciena in a research report on Friday, January 10th. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Citigroup raised their target price on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $84.00 to $88.00 in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Ciena currently has a consensus rating of “Moderate Buy” and an average target price of $77.62.

Insider Activity

In other news, CEO Gary B. Smith sold 6,800 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $76.41, for a total value of $519,588.00. Following the completion of the transaction, the chief executive officer now directly owns 398,549 shares in the company, valued at approximately $30,453,129.09. The trade was a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $89.09, for a total transaction of $311,815.00. Following the completion of the transaction, the senior vice president now owns 192,997 shares of the company’s stock, valued at $17,194,102.73. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,442 shares of company stock worth $5,337,764. 0.93% of the stock is currently owned by corporate insiders.

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.