Brokerages expect that Ciena Co. (NYSE:CIEN) will announce sales of $860.31 million for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Ciena’s earnings. The lowest sales estimate is $848.75 million and the highest is $871.30 million. Ciena reported sales of $744.45 million in the same quarter last year, which indicates a positive year over year growth rate of 15.6%. The business is expected to announce its next earnings results on Thursday, December 6th.

According to Zacks, analysts expect that Ciena will report full-year sales of $3.06 billion for the current financial year, with estimates ranging from $3.04 billion to $3.07 billion. For the next financial year, analysts expect that the firm will report sales of $3.26 billion, with estimates ranging from $3.17 billion to $3.36 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ciena.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The business had revenue of $818.82 million for the quarter, compared to analyst estimates of $792.28 million. During the same period last year, the company posted $0.51 EPS. The business’s revenue was up 12.4% on a year-over-year basis.

A number of analysts have recently issued reports on CIEN shares. MKM Partners downgraded shares of Ciena to a “buy” rating and set a $32.00 price target for the company. in a report on Wednesday, July 18th. Deutsche Bank raised their price target on shares of Ciena from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, August 31st. Loop Capital restated a “buy” rating and set a $36.00 price target on shares of Ciena in a report on Thursday, August 30th. Citigroup raised their price target on shares of Ciena from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Finally, Needham & Company LLC raised their price target on shares of Ciena from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, August 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $32.74.

In other Ciena news, CEO Gary B. Smith sold 9,600 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $31.65, for a total value of $303,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stephen B. Alexander sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $26.00, for a total transaction of $65,000.00. The disclosure for this sale can be found here. Insiders sold a total of 82,812 shares of company stock valued at $2,485,482 in the last quarter. 1.38% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of CIEN. BlackRock Inc. increased its stake in Ciena by 0.7% during the 3rd quarter. BlackRock Inc. now owns 16,338,058 shares of the communications equipment provider’s stock valued at $510,400,000 after buying an additional 115,012 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ciena by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,630,051 shares of the communications equipment provider’s stock worth $122,740,000 after purchasing an additional 224,828 shares during the period. Alliancebernstein L.P. increased its position in shares of Ciena by 52.0% in the third quarter. Alliancebernstein L.P. now owns 4,588,525 shares of the communications equipment provider’s stock worth $143,346,000 after purchasing an additional 1,568,877 shares during the period. LSV Asset Management increased its position in shares of Ciena by 4.3% in the third quarter. LSV Asset Management now owns 2,852,237 shares of the communications equipment provider’s stock worth $89,103,000 after purchasing an additional 117,630 shares during the period. Finally, Northern Trust Corp increased its position in shares of Ciena by 3.2% in the second quarter. Northern Trust Corp now owns 2,276,115 shares of the communications equipment provider’s stock worth $60,341,000 after purchasing an additional 70,665 shares during the period.

Shares of NYSE CIEN traded down $0.24 during midday trading on Wednesday, reaching $34.43. 3,926,507 shares of the stock were exchanged, compared to its average volume of 3,647,314. The company has a market capitalization of $4.95 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.76. Ciena has a twelve month low of $19.40 and a twelve month high of $35.04.

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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