Ciena (CIEN) Stock Forecast, Price & News

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last twelve months. There are currently 2 hold ratings, 10 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "buy" CIEN shares.
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13 equities research analysts have issued 12 month price objectives for Ciena's stock. Their CIEN share price forecasts range from $41.00 to $76.00. On average, they expect the company's stock price to reach $63.93 in the next twelve months. This suggests a possible upside of 54.6% from the stock's current price.
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Ciena's stock was trading at $50.98 at the start of the year. Since then, CIEN stock has decreased by 18.9% and is now trading at $41.35.
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Ciena saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 4,460,000 shares, an increase of 13.8% from the April 30th total of 3,920,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 3.0% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, September 7th 2023.
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Ciena Co. (NYSE:CIEN) announced its quarterly earnings results on Tuesday, June, 6th. The communications equipment provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.61 by $0.13. The communications equipment provider earned $1.13 billion during the quarter, compared to analysts' expectations of $1.09 billion. Ciena had a net margin of 5.02% and a trailing twelve-month return on equity of 9.31%. The business's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS.

ETFs with the largest weight of Ciena (NYSE:CIEN) stock in their portfolio include iShares North American Tech-Multimedia Networking ETF (IGN), Future Fund Active ETF (FFND), SPDR S&P Telecom ETF (XTL), iShares U.S. Telecommunications ETF (IYZ), iShares Future Cloud 5G and Tech ETF (IDAT), First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT), SRH U.S. Quality ETF (SRHQ) and Defiance Next Gen Connectivity ETF (FIVG).

Ciena updated its third quarter 2023 earnings guidance on Wednesday, June, 7th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $1.00 billion-$1.08 billion, compared to the consensus revenue estimate of $1.08 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 trades on the New York Stock Exchange (NYSE) under the ticker symbol "CIEN."

Ciena's stock is owned by a variety of institutional and retail investors. Top institutional investors include BlackRock Inc. (11.33%), FMR LLC (5.90%), Providence Capital Advisors LLC (3.97%), State Street Corp (2.86%), Bank of America Corp DE (2.72%) and Neuberger Berman Group LLC (2.51%). Insiders that own company stock include Andrew C Petrik, Andrew C Petrik, Bruce L Claflin, 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, Patrick H Nettles, 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CIEN stock can currently be purchased for approximately $41.35.

Ciena (NYSE:CIEN) has a market capitalization of $6.18 billion and generates $3.63 billion in revenue each year. The communications equipment provider earns $152.90 million in net income (profit) each year or $1.35 on an earnings per share basis.

The company employs 8,079 workers across the globe.

Ciena's mailing address is 7035 RIDGE ROAD, HANOVER MD, 21076. The official website for the company is www.ciena.com. The communications equipment provider can be reached via phone at (410) 694-5700, via email at ir@ciena.com, or via fax at 410-694-5750.