William Blair Reiterates “Buy” Rating for Ciena Corporation (CIEN)
William Blair reiterated their buy rating on shares of Ciena Corporation (NYSE:CIEN) in a research report report published on Monday morning. William Blair also issued estimates for Ciena Corporation’s Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $1.66 EPS.
A number of other research analysts have also recently issued reports on CIEN. Stifel Nicolaus reiterated a buy rating and issued a $32.00 target price on shares of Ciena Corporation in a research report on Friday, July 21st. BidaskClub cut Ciena Corporation from a hold rating to a sell rating in a report on Monday, July 24th. Zacks Investment Research cut Ciena Corporation from a buy rating to a hold rating in a report on Wednesday, August 2nd. Northland Securities set a $32.00 price target on Ciena Corporation and gave the stock a buy rating in a report on Monday, August 7th. Finally, ValuEngine cut Ciena Corporation from a buy rating to a hold rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $29.53.
Ciena Corporation (NYSE:CIEN) traded up $0.56 during trading on Monday, reaching $20.40. The company’s stock had a trading volume of 2,973,800 shares, compared to its average volume of 3,105,655. Ciena Corporation has a 1 year low of $19.40 and a 1 year high of $27.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.92. The company has a market capitalization of $2,830.94, a PE ratio of 14.38, a PEG ratio of 0.78 and a beta of 1.64.
Ciena Corporation (NYSE:CIEN) last released its earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $728.70 million for the quarter, compared to analysts’ expectations of $726.81 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. research analysts forecast that Ciena Corporation will post 1.51 earnings per share for the current year.
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In other news, SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $21.78, for a total transaction of $43,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary B. Smith sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $23.27, for a total value of $186,160.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,052 shares of company stock worth $1,880,078. Insiders own 1.45% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ciena Corporation by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 517 shares in the last quarter. Fortaleza Asset Management Inc. bought a new stake in Ciena Corporation during the second quarter worth $134,000. Acadian Asset Management LLC bought a new stake in Ciena Corporation during the second quarter worth $159,000. Howe & Rusling Inc. bought a new stake in Ciena Corporation during the third quarter worth $158,000. Finally, TNB Financial bought a new stake in Ciena Corporation during the second quarter worth $200,000.
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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