Ciena Corporation (NYSE:CIEN) announced its quarterly earnings results on Thursday. The communications equipment provider reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02, Bloomberg Earnings reports. Ciena Corporation had a return on equity of 25.56% and a net margin of 4.13%. The firm had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. During the same quarter in the previous year, the business earned $0.42 EPS. Ciena Corporation’s revenue for the quarter was up 8.7% compared to the same quarter last year.

Ciena Corporation (CIEN) opened at 24.27 on Thursday. 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 12-month low of $18.94 and a 12-month high of $27.98. The firm has a market capitalization of $3.44 billion, a PE ratio of 32.06 and a beta of 1.61. Ciena Corporation also was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 16,836 put options on the stock. This represents an increase of approximately 851% compared to the average volume of 1,771 put options.

Several brokerages recently weighed in on CIEN. Instinet restated a “buy” rating and issued a $30.00 price target (up previously from $27.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. BMO Capital Markets restated an “outperform” rating and issued a $32.00 price target (up previously from $30.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Deutsche Bank AG restated a “hold” rating and issued a $24.00 price target (up previously from $23.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. MKM Partners restated a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Ciena Corporation in a research note on Friday, June 2nd. Finally, B. Riley restated a “buy” rating and issued a $34.00 price target on shares of Ciena Corporation in a research note on Sunday, June 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $30.44.

In other Ciena Corporation news, VP David M. Rothenstein sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $25.02, for a total value of $50,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary B. Smith sold 12,558 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $25.31, for a total transaction of $317,842.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,108 shares of company stock worth $1,945,437. Company insiders own 1.45% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in shares of Ciena Corporation during the second quarter worth $777,000. Koch Industries Inc. bought a new stake in shares of Ciena Corporation during the second quarter worth $235,000. Verition Fund Management LLC increased its stake in shares of Ciena Corporation by 48.4% in the second quarter. Verition Fund Management LLC now owns 31,899 shares of the communications equipment provider’s stock worth $798,000 after buying an additional 10,399 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Ciena Corporation by 2.5% in the second quarter. Ameritas Investment Partners Inc. now owns 54,813 shares of the communications equipment provider’s stock worth $1,371,000 after buying an additional 1,328 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Ciena Corporation by 11.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,091 shares of the communications equipment provider’s stock worth $653,000 after buying an additional 2,628 shares during the period.

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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.

Earnings History for Ciena Corporation (NYSE:CIEN)

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