Ciena Co. Expected to Earn Q2 2018 Earnings of $0.26 Per Share (CIEN)
Ciena Co. (NYSE:CIEN) – Research analysts at William Blair increased their Q2 2018 earnings estimates for Ciena in a research report issued to clients and investors on Wednesday. William Blair analyst D. Netis now anticipates that the communications equipment provider will post earnings of $0.26 per share for the quarter, up from their prior estimate of $0.25. William Blair also issued estimates for Ciena’s Q3 2019 earnings at $0.48 EPS and Q4 2019 earnings at $0.48 EPS.
Ciena (NYSE:CIEN) last posted its earnings results on Tuesday, March 6th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.08. The firm had revenue of $646.14 million during the quarter, compared to the consensus estimate of $641.77 million. Ciena had a net margin of 27.76% and a return on equity of 14.10%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS.
Shares of Ciena (NYSE CIEN) opened at $27.49 on Monday. The stock has a market cap of $3,915.39, a P/E ratio of 21.03, a P/E/G ratio of 1.63 and a beta of 1.51. Ciena has a 1 year low of $19.40 and a 1 year high of $27.98. The company has a current ratio of 2.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.33.
Ciena declared that its Board of Directors has initiated a stock buyback program on Thursday, December 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, CEO Gary B. Smith sold 113,735 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $21.22, for a total transaction of $2,413,456.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Rick Hamilton sold 3,398 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $21.22, for a total value of $72,105.56. Following the transaction, the senior vice president now owns 51,019 shares in the company, valued at $1,082,623.18. The disclosure for this sale can be found here. Insiders have sold 228,743 shares of company stock valued at $4,934,751 in the last three months. Corporate insiders own 1.38% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CIEN. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ciena by 47.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock worth $157,000 after purchasing an additional 2,403 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in Ciena during the fourth quarter worth $225,000. Corient Capital Partners LLC bought a new position in Ciena during the fourth quarter worth $230,000. Aristotle Atlantic Partners LLC bought a new position in Ciena during the fourth quarter worth $244,000. Finally, Crossmark Global Holdings Inc. bought a new position in Ciena during the third quarter worth $246,000.
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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.
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