Ciena - CIEN Stock Forecast, Price & News

15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last twelve months. There are currently 2 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CIEN shares.
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15 brokers have issued 1 year target prices for Ciena's shares. Their CIEN share price forecasts range from $45.00 to $76.00. On average, they predict the company's stock price to reach $63.06 in the next year. This suggests a possible upside of 25.3% 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 1.3% and is now trading at $50.32.
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Ciena saw a increase in short interest during the month of December. As of December 30th, there was short interest totaling 3,900,000 shares, an increase of 9.9% from the December 15th total of 3,550,000 shares. Based on an average daily volume of 1,890,000 shares, the short-interest ratio is currently 2.1 days. Currently, 2.7% of the company's shares are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Monday, March 6th 2023.
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Ciena Co. (NYSE:CIEN) announced its quarterly earnings results on Thursday, December, 8th. The communications equipment provider reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.56. The communications equipment provider had revenue of $971 million for the quarter, compared to the consensus estimate of $847.83 million. Ciena had a net margin of 4.21% and a trailing twelve-month return on equity of 7.57%. The company's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share.

Ciena issued an update on its FY 2023 earnings guidance on Friday, December, 9th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $4.21 billion-$4.29 billion, compared to the consensus revenue estimate of $4.04 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 many different institutional and retail investors. Top institutional shareholders include Congress Asset Management Co. MA (2.19%), Natixis Advisors L.P. (0.59%), Kornitzer Capital Management Inc. KS (0.33%), Artemis Investment Management LLP (0.30%), Congress Wealth Management LLC DE (0.25%) and Peregrine Capital Management LLC (0.24%). 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 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 $50.32.

Ciena (NYSE:CIEN) has a market capitalization of $7.47 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 $1.00 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.