Analysts Anticipate Ciena Co. (CIEN) Will Announce Earnings of $0.40 Per Share

Equities analysts predict that Ciena Co. (NYSE:CIEN) will post $0.40 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Ciena’s earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.35. Ciena posted earnings per share of $0.23 in the same quarter last year, which suggests a positive year over year growth rate of 73.9%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, June 6th.

On average, analysts expect that Ciena will report full-year earnings of $1.81 per share for the current fiscal year, with EPS estimates ranging from $1.58 to $1.99. For the next year, analysts expect that the company will post earnings of $2.28 per share, with EPS estimates ranging from $1.76 to $2.53. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Ciena.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The company had revenue of $865.00 million for the quarter, compared to analyst estimates of $818.23 million. During the same period last year, the company earned $0.23 earnings per share. Ciena’s quarterly revenue was up 18.5% compared to the same quarter last year.

CIEN has been the topic of several research analyst reports. Argus reissued an “average” rating and issued a $53.00 price objective on shares of Ciena in a report on Wednesday, March 6th. MKM Partners increased their target price on Ciena to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Dougherty & Co increased their target price on Ciena from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. B. Riley increased their price target on Ciena from $42.20 to $48.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Nomura increased their price target on Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $42.35.

In related news, SVP Jason Phipps sold 1,022 shares of Ciena stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $38.26, for a total value of $39,101.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Frodsham sold 41,000 shares of Ciena stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $39.69, for a total value of $1,627,290.00. The disclosure for this sale can be found here. Insiders have sold 167,774 shares of company stock valued at $6,342,865 over the last 90 days. Insiders own 1.20% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Huntington National Bank acquired a new position in Ciena in the fourth quarter worth about $29,000. Rockefeller Capital Management L.P. acquired a new position in Ciena in the first quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new position in Ciena in the first quarter worth about $37,000. PRW Wealth Management LLC bought a new position in Ciena in the fourth quarter worth about $38,000. Finally, Investors Research Corp bought a new position in Ciena in the first quarter worth about $39,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

CIEN traded up $9.61 during trading on Thursday, hitting $45.49. The company’s stock had a trading volume of 17,675,693 shares, compared to its average volume of 2,687,850. The company has a current ratio of 2.98, a quick ratio of 2.52 and a debt-to-equity ratio of 0.33. Ciena has a twelve month low of $23.93 and a twelve month high of $45.70. The firm has a market cap of $5.56 billion, a P/E ratio of 40.62, a PEG ratio of 1.39 and a beta of 1.06.

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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Earnings History and Estimates for Ciena (NYSE:CIEN)

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