Ciena (CIEN) Stock Price, News & Analysis

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last twelve months. There are currently 1 sell rating, 1 hold rating, 8 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" CIEN shares.
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11 Wall Street analysts have issued 1 year target prices for Ciena's shares. Their CIEN share price targets range from $41.00 to $68.00. On average, they expect the company's stock price to reach $58.79 in the next year. This suggests a possible upside of 34.0% from the stock's current price.
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Ciena's stock was trading at $45.01 at the beginning of the year. Since then, CIEN shares have decreased by 2.6% and is now trading at $43.86.
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Ciena saw a decline in short interest during the month of March. As of March 15th, there was short interest totaling 5,050,000 shares, a decline of 15.8% from the February 29th total of 6,000,000 shares. Based on an average daily trading volume, of 2,100,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 3.5% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, June 4th 2024.
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Ciena Co. (NYSE:CIEN) announced its quarterly earnings results on Thursday, March, 7th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.18. The communications equipment provider earned $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Ciena had a net margin of 5.22% and a trailing twelve-month return on equity of 9.92%. The company's revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS.

ETFs with the largest weight of Ciena (NYSE:CIEN) stock in their portfolio include iShares U.S. Digital Infrastructure and Real Estate ETF (IGN), Innovator Deepwater Frontier Tech ETF (LOUP), SPDR S&P Telecom ETF (XTL), Future Fund Active ETF (FFND), iShares U.S. Telecommunications ETF (IYZ), iShares Future Cloud 5G and Tech ETF (IDAT), Future Fund Long/Short ETF (FFLS) and First Trust Indxx NextG ETF (NXTG).

Ciena issued an update on its FY 2024 earnings guidance on Thursday, March, 7th. The company provided EPS guidance of for the period. The company issued revenue guidance of $4.0 billion-$4.3 billion, compared to the consensus revenue estimate of $4.5 billion.

581 employees have rated Ciena Chief Executive Officer Gary B. Smith on Glassdoor.com. Gary B. Smith has an approval rating of 95% among the company's employees. This puts Gary B. Smith in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Ciena investors own include NVIDIA (NVDA), Bank of America (BAC), Advanced Micro Devices (AMD), Micron Technology (MU), Intel (INTC), Alibaba Group (BABA), Cisco Systems (CSCO), QUALCOMM (QCOM), Walt Disney (DIS) and Skyworks Solutions (SWKS).

Ciena's stock is owned by a number of retail and institutional investors. Top institutional investors include Fort Pitt Capital Group LLC (1.14%), Wealth Enhancement Advisory Services LLC (0.56%), Deepwater Asset Management LLC (0.02%), Harbour Capital Advisors LLC (0.02%), Gateway Investment Advisers LLC (0.02%) and Washington Capital Management Inc. (0.01%). Insiders that own company stock include Andrew C Petrik, Andrew C Petrik, Brodie Gage, David M Rothenstein, David M Rothenstein, Gary B Smith, Gary B Smith, Gary E Dickerson, James E Moylan Jr, James E Moylan, Jr, Jason Phipps, Joseph Cumello, Joseph Gebbia, Judith M Obrien, Rick Hamilton, Scott Mcfeely, Stephen B Alexander, Stephen B Alexander and Thomas Michael Nevens.
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Shares of CIEN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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