Ciena Corporation (CIEN) Earning Somewhat Favorable Press Coverage, Report Shows
Press coverage about Ciena Corporation (NYSE:CIEN) has been trending somewhat positive on Wednesday, Accern reports. The research group scores the sentiment of media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Ciena Corporation earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned press coverage about the communications equipment provider an impact score of 45.5246825885633 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- Why Is Ciena (CIEN) Up 2.1% Since the Last Earnings Report? (finance.yahoo.com)
- Stifel Nicolaus Reiterates Buy Rating for Ciena Corporation (CIEN) (americanbankingnews.com)
- Cisco Systems (CSCO) vs. Ciena Corporation (CIEN) Head-To-Head Contrast (americanbankingnews.com)
- Ciena Corporation (CIEN) CEO Gary B. Smith Sells 8,000 Shares (americanbankingnews.com)
- Ciena : Enterprise Network Investment Strategy Missing Key Technology Advances (4-traders.com)
Several equities research analysts recently commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price objective on shares of Ciena Corporation in a research report on Wednesday. MKM Partners reiterated a “buy” rating and issued a $30.00 price objective on shares of Ciena Corporation in a report on Tuesday, September 26th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price (down previously from $31.00) on shares of Ciena Corporation in a research report on Monday, September 25th. Nomura reissued a “buy” rating and issued a $28.00 target price on shares of Ciena Corporation in a research report on Wednesday, September 20th. Finally, Zacks Investment Research cut shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $29.55.
Ciena Corporation (NYSE:CIEN) opened at 22.26 on Wednesday. The company’s 50 day moving average is $22.50 and its 200-day moving average is $23.90. Ciena Corporation has a 1-year low of $18.94 and a 1-year high of $27.98. The stock has a market cap of $3.18 billion, a PE ratio of 24.35 and a beta of 1.69.
Ciena Corporation (NYSE:CIEN) last announced its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The company had revenue of $728.70 million during the quarter, compared to analysts’ expectations of $726.81 million. During the same period last year, the business earned $0.42 earnings per share. Ciena Corporation’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current fiscal year.
In related news, SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $25.70, for a total transaction of $25,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary B. Smith sold 4,000 shares of Ciena Corporation stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $21.99, for a total transaction of $87,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 98,310 shares of company stock worth $2,313,394 in the last ninety days. Corporate insiders own 1.45% of the company’s stock.
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About Ciena Corporation
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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