Ciena (NYSE:CIEN)‘s stock had its “buy” rating reissued by analysts at William Blair in a note issued to investors on Friday.

Several other brokerages have also recently commented on CIEN. B. Riley boosted their target price on Ciena from $31.50 to $36.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. set a $39.00 target price on Ciena and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC boosted their target price on Ciena from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday. Citigroup boosted their target price on Ciena from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Friday. Finally, Nomura set a $35.00 target price on Ciena and gave the stock a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.24.

NYSE:CIEN traded up $1.41 during midday trading on Friday, hitting $32.12. 572,480 shares of the stock were exchanged, compared to its average volume of 1,586,215. Ciena has a one year low of $19.40 and a one year high of $31.93. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 1.81 and a beta of 1.31. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.01 and a quick ratio of 1.77.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Ciena had a return on equity of 9.92% and a net margin of 26.69%. The firm had revenue of $818.82 million for the quarter, compared to analysts’ expectations of $792.28 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. sell-side analysts expect that Ciena will post 0.99 EPS for the current year.

In other Ciena news, CEO Gary B. Smith sold 9,600 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $27.17, for a total transaction of $260,832.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David M. Rothenstein sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $26.00, for a total transaction of $52,000.00. The disclosure for this sale can be found here. Insiders sold 75,262 shares of company stock worth $1,957,276 in the last ninety days. 1.38% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan raised its stake in Ciena by 4.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 44,840 shares of the communications equipment provider’s stock valued at $1,161,000 after purchasing an additional 1,960 shares during the period. American International Group Inc. raised its stake in Ciena by 0.5% during the 2nd quarter. American International Group Inc. now owns 379,392 shares of the communications equipment provider’s stock valued at $10,058,000 after purchasing an additional 1,962 shares during the period. Arizona State Retirement System raised its stake in Ciena by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 99,579 shares of the communications equipment provider’s stock valued at $2,640,000 after purchasing an additional 1,971 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Ciena by 4.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 43,614 shares of the communications equipment provider’s stock valued at $1,130,000 after acquiring an additional 2,039 shares in the last quarter. Finally, Mason Street Advisors LLC grew its holdings in shares of Ciena by 3.1% during the 1st quarter. Mason Street Advisors LLC now owns 72,487 shares of the communications equipment provider’s stock valued at $1,877,000 after acquiring an additional 2,189 shares in the last quarter.

About Ciena

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Analyst Recommendations for Ciena (NYSE:CIEN)

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