Jefferies Group Research Analysts Increase Earnings Estimates for Ciena Corporation (CIEN)
Ciena Corporation (NYSE:CIEN) – Equities research analysts at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for shares of Ciena in a research note issued to investors on Monday. Jefferies Group analyst G. Notter now anticipates that the communications equipment provider will post earnings of $1.49 per share for the year, up from their prior estimate of $1.47. Jefferies Group also issued estimates for Ciena’s Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.40 EPS and FY2018 earnings at $1.64 EPS.
A number of other research firms have also recently commented on CIEN. B. Riley reiterated a “buy” rating and set a $30.50 price target on shares of Ciena in a report on Sunday, September 3rd. MKM Partners reiterated a “buy” rating and set a $30.00 price target on shares of Ciena in a report on Tuesday, September 26th. ValuEngine cut shares of Ciena from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target (down previously from $31.00) on shares of Ciena in a report on Monday, September 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price target on shares of Ciena in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Ciena presently has an average rating of “Buy” and an average price target of $29.30.
Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ciena by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after purchasing an additional 517 shares in the last quarter. Fortaleza Asset Management Inc. bought a new stake in shares of Ciena in the 2nd quarter valued at about $134,000. Advisor Group Inc. raised its holdings in shares of Ciena by 6.4% in the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after purchasing an additional 604 shares in the last quarter. Howe & Rusling Inc. bought a new stake in shares of Ciena in the 3rd quarter valued at about $158,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Ciena in the 2nd quarter valued at about $159,000.
In other Ciena news, CFO James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $21.46, for a total value of $42,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew C. Petrik sold 1,251 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $21.60, for a total transaction of $27,021.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,052 shares of company stock worth $1,898,778. 1.45% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION WARNING: “Jefferies Group Research Analysts Increase Earnings Estimates for Ciena Corporation (CIEN)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/12/07/jefferies-group-research-analysts-increase-earnings-estimates-for-ciena-corporation-cien.html.
Ciena 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.
Receive News & Stock Ratings for Ciena Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena Corporation and related stocks with our FREE daily email newsletter.