Ciena (CIEN) Stock Forecast, Price & News

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last year. There are currently 3 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" CIEN shares.
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13 Wall Street analysts have issued 12 month price objectives for Ciena's shares. Their CIEN share price forecasts range from $41.00 to $76.00. On average, they predict the company's share price to reach $61.39 in the next twelve months. This suggests a possible upside of 32.7% 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 9.3% and is now trading at $46.25.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, December 14th 2023.
View our CIEN earnings forecast.

Ciena Co. (NYSE:CIEN) released its quarterly earnings data on Thursday, August, 31st. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. The communications equipment provider had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. Ciena had a net margin of 5.23% and a trailing twelve-month return on equity of 10.00%. The company's revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 earnings per share.

ETFs with the largest weight of Ciena (NYSE:CIEN) stock in their portfolio include iShares North American Tech-Multimedia Networking ETF (IGN), SPDR S&P Telecom ETF (XTL), Future Fund Long/Short ETF (FFLS), iShares U.S. Telecommunications ETF (IYZ), Future Fund Active ETF (FFND), iShares Future Cloud 5G and Tech ETF (IDAT), First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT) and First Trust Indxx NextG ETF (NXTG).

Ciena updated its fourth quarter 2023 earnings guidance on Friday, September, 1st. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $1.06 billion-$1.14 billion, compared to the consensus revenue estimate of $1.10 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."

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 $46.25.

Ciena (NYSE:CIEN) has a market capitalization of $6.84 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 $1.48 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.