Ciena Co. (NYSE:CIEN) Director Thomas Michael Nevens sold 7,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $34.24, for a total transaction of $239,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
CIEN stock traded up $0.09 during midday trading on Wednesday, reaching $33.30. The stock had a trading volume of 2,248,983 shares, compared to its average volume of 2,554,475. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.98. The firm has a market capitalization of $5.16 billion, a P/E ratio of 29.73, a PEG ratio of 1.29 and a beta of 1.02. Ciena Co. has a 52-week low of $22.99 and a 52-week high of $45.70.
Ciena (NYSE:CIEN) last announced its quarterly earnings data on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $778.53 million for the quarter, compared to analyst estimates of $761.62 million. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. On average, equities analysts forecast that Ciena Co. will post 1.53 earnings per share for the current year.
Several brokerages recently weighed in on CIEN. Zacks Investment Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. cut shares of Ciena from a “neutral” rating to an “underweight” rating in a research note on Monday, April 22nd. Northland Securities raised shares of Ciena from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Monday, April 15th. ValuEngine cut shares of Ciena from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Finally, UBS Group set a $42.00 price objective on shares of Ciena and gave the stock a “hold” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $42.13.
A number of hedge funds have recently made changes to their positions in CIEN. Oregon Public Employees Retirement Fund boosted its stake in shares of Ciena by 3,337.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,908,421 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 1,852,903 shares during the period. Norges Bank acquired a new stake in shares of Ciena in the fourth quarter worth $59,613,000. BlackRock Inc. boosted its position in shares of Ciena by 9.6% in the fourth quarter. BlackRock Inc. now owns 17,899,503 shares of the communications equipment provider’s stock worth $606,974,000 after buying an additional 1,561,445 shares during the period. Renaissance Technologies LLC boosted its position in shares of Ciena by 471.1% in the first quarter. Renaissance Technologies LLC now owns 1,598,274 shares of the communications equipment provider’s stock worth $59,680,000 after buying an additional 1,318,400 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in shares of Ciena by 4,444.8% in the first quarter. Wedge Capital Management L L P NC now owns 1,040,039 shares of the communications equipment provider’s stock worth $38,835,000 after buying an additional 1,017,155 shares during the period. Institutional investors own 94.44% of the company’s stock.
Ciena Company Profile
Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice 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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