Ciena - CIEN Stock Forecast, Price & News

Ciena Corporation provides network hardware, software, and services that support the transport, routing, 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 products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching. Its products include 6500 Packet-Optical Platform, 5430 Reconfigurable Switching System, Waveserver stackable interconnect system, and the 6500 Reconfigurable line system, and the 5400 family of Packet-Optical platforms, as well as Z-Series Packet-Optical Platform; 3000 family of service delivery switches and service aggregation switches, and the 5000 family of service aggregation switches, as well as 8700 Packetwave Platform and the Ethernet packet configuration for the 5410 Service Aggregation Switch; and 6500 Packet Transport System. This segment also sells operating system software and enhanced software features embedded in each of its products. The company's Blue Planet Automation Software and Services segment provides multi-domain service orchestration, inventory, route optimization and analysis, network function virtualization orchestration, analytics, and related services. Its Platform Software and Service segment offers OneControl unified management system and platform software services, as well as manage, control, and plan software. The company's Global Services segment provides consulting and network design, installation and deployment, maintenance support, and training services. The company sells its products through direct and indirect sales channels to network operators. Ciena Corporation was founded in 1992 and is headquartered in Hanover, Maryland.

Analyst Ratings Changes

A number of research firms have issued reports on CIEN. B. Riley raised Ciena from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $65.00 to $67.00 in a research note on Friday, June 3rd. JPMorgan Chase & Co. decreased their price target on shares of Ciena from $72.00 to $62.00 and set an "overweight" rating on the stock in a research note on Thursday, July 14th. Cowen reduced their target price on shares of Ciena from $96.00 to $82.00 and set an "outperform" rating on the stock in a report on Monday, June 6th. UBS Group reduced their price objective on Ciena from $66.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, June 3rd. Finally, Argus lowered their price objective on Ciena from $82.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, June 3rd. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.28.

Ciena Price Performance

Shares of CIEN Stock opened at $54.70 on Friday. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 2.30 and a beta of 0.92. The company has a current ratio of 3.72, a quick ratio of 3.10 and a debt-to-equity ratio of 0.38. Ciena has a twelve month low of $41.63 and a twelve month high of $78.28. The stock has a fifty day simple moving average of $47.91 and a two-hundred day simple moving average of $55.16.

Ciena (NYSE:CIEN - Get Rating) last issued its earnings results on Thursday, June 2nd. The communications equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). Ciena had a return on equity of 12.18% and a net margin of 11.15%. The business had revenue of $949.20 million for the quarter, compared to the consensus estimate of $950.86 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm's revenue was up 13.8% on a year-over-year basis. On average, analysts predict that Ciena will post 1.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Ciena news, CEO Gary B. Smith sold 3,542 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $48.68, for a total transaction of $172,424.56. Following the sale, the chief executive officer now owns 440,382 shares of the company's stock, valued at approximately $21,437,795.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Andrew C. Petrik sold 1,000 shares of Ciena stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $47.17, for a total value of $47,170.00. Following the transaction, the vice president now owns 31,190 shares of the company's stock, valued at approximately $1,471,232.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary B. Smith sold 3,542 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $48.68, for a total transaction of $172,424.56. Following the sale, the chief executive officer now directly owns 440,382 shares of the company's stock, valued at approximately $21,437,795.76. The disclosure for this sale can be found here. Insiders sold 30,852 shares of company stock valued at $1,459,902 over the last 90 days. Corporate insiders own 0.94% of the company's stock.