Ciena Co. (NYSE:CIEN) SVP Rick Hamilton sold 1,895 shares of the business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $41.00, for a total value of $77,695.00.
Shares of NYSE:CIEN traded down $1.82 during trading on Wednesday, reaching $39.29. 2,988,719 shares of the company traded hands, compared to its average volume of 2,171,637. The firm has a fifty day simple moving average of $52.75 and a 200 day simple moving average of $49.90. The company has a quick ratio of 3.06, a current ratio of 3.56 and a debt-to-equity ratio of 0.28. Ciena Co. has a 1-year low of $30.58 and a 1-year high of $61.51. The firm has a market cap of $6.06 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78.
Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, September 3rd. The communications equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.23. Ciena had a return on equity of 17.93% and a net margin of 10.26%. The firm had revenue of $976.70 million during the quarter, compared to analysts' expectations of $974.49 million. During the same quarter last year, the firm earned $0.71 earnings per share. The business's revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts anticipate that Ciena Co. will post 2.64 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Ciena by 605.3% in the first quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider's stock worth $46,669,000 after acquiring an additional 1,072,632 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Ciena by 3.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 22,552 shares of the communications equipment provider's stock valued at $898,000 after acquiring an additional 849 shares in the last quarter. Swiss National Bank lifted its holdings in Ciena by 1.0% in the 1st quarter. Swiss National Bank now owns 300,000 shares of the communications equipment provider's stock worth $11,943,000 after purchasing an additional 3,100 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Ciena by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 29,690 shares of the communications equipment provider's stock worth $1,182,000 after purchasing an additional 779 shares during the period. Finally, RMB Capital Management LLC acquired a new position in Ciena during the first quarter valued at approximately $723,000. Hedge funds and other institutional investors own 88.38% of the company's stock.
CIEN has been the topic of a number of research analyst reports. Evercore ISI reaffirmed a "buy" rating and set a $62.00 target price on shares of Ciena in a report on Thursday, June 4th. B. Riley lowered their price objective on shares of Ciena from $50.00 to $46.00 in a research note on Friday, September 4th. Wolfe Research initiated coverage on shares of Ciena in a research note on Friday, July 24th. They set an "outperform" rating for the company. Nomura lifted their price target on shares of Ciena from $46.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Finally, MKM Partners cut their price objective on Ciena from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, September 4th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company's stock. The company currently has a consensus rating of "Buy" and a consensus price target of $53.81.
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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6 Travel Stocks That Present a Buy and Hold Opportunity
There is a common expression that patience is a virtue. Many investors will have their patience tested in the coming weeks and months. Many stocks are dead in the water right now. Before we know how robust an economic turnaround will be, the nation has to get to the other side of the coronavirus.
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