Ciena (NYSE:CIEN)‘s stock had its “buy” rating restated by investment analysts at BMO Capital Markets in a report released on Wednesday. They currently have a $28.00 price target on the communications equipment provider’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 8.82% from the company’s previous close.

Several other brokerages have also issued reports on CIEN. MKM Partners lowered shares of Ciena to a “buy” rating and set a $32.00 price target on the stock. in a research note on Wednesday, July 18th. Zacks Investment Research upgraded shares of Ciena from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, June 5th. JPMorgan Chase & Co. set a $36.00 price target on shares of Ciena and gave the company a “buy” rating in a research note on Tuesday, May 29th. Goldman Sachs Group initiated coverage on shares of Ciena in a research note on Thursday, June 21st. They issued a “buy” rating on the stock. Finally, Morgan Stanley upgraded shares of Ciena from an “equal weight” rating to an “overweight” rating and set a $29.00 price target on the stock in a research note on Monday, June 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.57.

Shares of CIEN stock opened at $30.71 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.77 and a debt-to-equity ratio of 0.34. Ciena has a 1 year low of $19.40 and a 1 year high of $31.93. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.31.

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

In other news, SVP James E. Moylan, Jr. sold 2,000 shares of Ciena stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $27.14, for a total value of $54,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary B. Smith sold 8,000 shares of Ciena stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $24.59, for a total transaction of $196,720.00. The disclosure for this sale can be found here. In the last three months, insiders sold 75,262 shares of company stock valued at $1,957,276. Insiders own 1.38% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CIEN. Municipal Employees Retirement System of Michigan boosted its holdings in shares of 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 worth $1,161,000 after buying an additional 1,960 shares during the period. American International Group Inc. boosted its holdings in shares of Ciena by 0.5% during the 2nd quarter. American International Group Inc. now owns 379,392 shares of the communications equipment provider’s stock worth $10,058,000 after buying an additional 1,962 shares during the period. Arizona State Retirement System boosted its holdings in shares of Ciena by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 99,579 shares of the communications equipment provider’s stock worth $2,640,000 after buying an additional 1,971 shares during the period. PNC Financial Services Group Inc. boosted 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 worth $1,130,000 after buying an additional 2,039 shares during the period. Finally, Mason Street Advisors LLC boosted 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 worth $1,877,000 after buying an additional 2,189 shares during the period.

Ciena Company Profile

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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