Ciena Co. (NYSE:CIEN) Expected to Announce Earnings of $0.82 Per Share

Equities analysts expect that Ciena Co. (NYSE:CIEN) will post earnings of $0.82 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Ciena’s earnings, with estimates ranging from $0.77 to $0.86. Ciena reported earnings of $0.71 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, September 3rd.

On average, analysts expect that Ciena will report full year earnings of $2.92 per share for the current year, with EPS estimates ranging from $2.75 to $3.11. For the next fiscal year, analysts forecast that the company will report earnings of $3.17 per share, with EPS estimates ranging from $2.76 to $3.64. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Ciena.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.27. The firm had revenue of $894.00 million during the quarter, compared to analyst estimates of $889.42 million. Ciena had a return on equity of 16.18% and a net margin of 8.78%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS.

Several research firms have recently weighed in on CIEN. B. Riley lowered Ciena from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $54.00 to $51.00 in a research note on Wednesday, May 13th. Rosenblatt Securities increased their target price on Ciena from $59.00 to $64.00 and gave the company a “buy” rating in a report on Friday, June 5th. Stifel Nicolaus increased their target price on Ciena from $54.00 to $61.00 and gave the company a “buy” rating in a report on Friday, June 5th. Northland Securities lowered Ciena from an “outperform” rating to a “market perform” rating and set a $54.00 target price for the company. in a report on Thursday, June 4th. They noted that the move was a valuation call. Finally, Nomura Securities reduced their target price on Ciena from $50.00 to $46.00 and set a “buy” rating for the company in a report on Monday, March 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $56.30.

Shares of CIEN traded down $0.29 during trading hours on Monday, hitting $53.18. 101,171 shares of the company were exchanged, compared to its average volume of 2,077,735. The company has a market capitalization of $8.21 billion, a PE ratio of 26.05, a PEG ratio of 1.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.28 and a quick ratio of 2.83. The firm has a fifty day simple moving average of $52.57 and a 200-day simple moving average of $44.56. Ciena has a one year low of $30.58 and a one year high of $57.19.

In other Ciena news, VP David M. Rothenstein sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $52.12, for a total transaction of $130,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott Mcfeely sold 900 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $45.00, for a total transaction of $40,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,150 shares of company stock worth $1,706,385. 0.95% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Wealth Quarterback LLC acquired a new position in shares of Ciena during the fourth quarter valued at about $17,177,931,000. Alliancebernstein L.P. grew its holdings in shares of Ciena by 32.3% during the first quarter. Alliancebernstein L.P. now owns 4,255,893 shares of the communications equipment provider’s stock valued at $169,427,000 after buying an additional 1,038,125 shares during the last quarter. State Street Corp grew its holdings in shares of Ciena by 2.6% during the first quarter. State Street Corp now owns 3,783,454 shares of the communications equipment provider’s stock valued at $150,619,000 after buying an additional 96,321 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Ciena by 6.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,166,259 shares of the communications equipment provider’s stock valued at $135,167,000 after buying an additional 180,614 shares during the last quarter. Finally, Ion Asset Management Ltd. grew its holdings in shares of Ciena by 9.2% during the first quarter. Ion Asset Management Ltd. now owns 2,625,524 shares of the communications equipment provider’s stock valued at $104,522,000 after buying an additional 221,467 shares during the last quarter. Institutional investors and hedge funds own 88.43% 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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Earnings History and Estimates for Ciena (NYSE:CIEN)

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