Ciena Corporation (CIEN) Earns Media Sentiment Rating of 0.18
Press coverage about Ciena Corporation (NYSE:CIEN) has been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ciena Corporation earned a daily sentiment score of 0.18 on Accern’s scale. Accern also assigned media headlines about the communications equipment provider an impact score of 45.3560626236161 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the news headlines that may have impacted Accern’s rankings:
- Software Defined Networking (SDN) Market Trends, Analysis & Opportunity to 2022 (planet.infowars.com)
- Ciena Corporation (NYSE:CIEN) Closed Lower Than Its 50 Day Average (expressnewsline.com)
- Stock Traders Buy High Volume of Call Options on Ciena Corporation (CIEN) (americanbankingnews.com)
- The Bull Case for Ciena Corporation (CIEN) – Economic News (economicsandmoney.com)
- Deutsche Bank Downgrades Rating On Ciena Corporation (CIEN) – First News 24 (firstnewspaper24.com)
CIEN has been the topic of several research analyst reports. Needham & Company LLC lifted their target price on Ciena Corporation from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, June 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $24.00 target price (up previously from $23.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Zacks Investment Research cut Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Ciena Corporation in a research note on Thursday, August 24th. Finally, Instinet reaffirmed a “buy” rating and set a $30.00 target price (up previously from $27.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $30.19.
Ciena Corporation (NYSE CIEN) opened at 23.74 on Tuesday. The company has a 50 day moving average price of $25.08 and a 200-day moving average price of $24.46. Ciena Corporation has a 52 week low of $18.94 and a 52 week high of $27.98. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 31.36 and a beta of 1.61.
Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. Ciena Corporation had a return on equity of 25.56% and a net margin of 4.13%. The firm had revenue of $707.02 million during the quarter, compared to analyst estimates of $694.84 million. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts predict that Ciena Corporation will post $1.77 earnings per share for the current year.
In related news, SVP Stephen B. Alexander sold 2,500 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $25.02, for a total value of $62,550.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott Mcfeely sold 1,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $25.70, for a total value of $25,700.00. The disclosure for this sale can be found here. Insiders sold 82,108 shares of company stock worth $2,076,887 in the last quarter. 1.45% of the stock is currently owned by company insiders.
Ciena Corporation Company Profile
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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