Ciena Co. (NYSE:CIEN) VP Andrew C. Petrik sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.11, for a total value of $82,220.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Andrew C. Petrik also recently made the following trade(s):
- On Wednesday, July 17th, Andrew C. Petrik sold 2,000 shares of Ciena stock. The shares were sold at an average price of $44.29, for a total value of $88,580.00.
Shares of CIEN stock opened at $41.52 on Thursday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 37.07, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11. The stock has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $40.10. Ciena Co. has a 12-month low of $27.04 and a 12-month high of $46.78. The company has a current ratio of 2.83, a quick ratio of 2.36 and a debt-to-equity ratio of 0.33.
Ciena (NYSE:CIEN) last issued its earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. On average, equities analysts forecast that Ciena Co. will post 1.74 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC increased its stake in Ciena by 98.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 320 shares in the last quarter. Tobam purchased a new position in Ciena in the 2nd quarter valued at approximately $33,000. Mizuho Securities Co. Ltd. purchased a new position in Ciena in the 1st quarter valued at approximately $37,000. Investors Research Corp purchased a new position in Ciena in the 1st quarter valued at approximately $39,000. Finally, Coastal Capital Group Inc. purchased a new position in Ciena in the 2nd quarter valued at approximately $41,000. 88.05% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on CIEN. Jefferies Financial Group upped their price objective on Ciena from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Nomura reaffirmed a “buy” rating and set a $50.00 price objective on shares of Ciena in a research note on Wednesday. Stifel Nicolaus upped their price objective on Ciena from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Piper Jaffray Companies upped their price objective on Ciena from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, June 6th. Finally, Zacks Investment Research raised Ciena from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.71.
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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