Ciena - CIEN Stock Forecast, Price & News

15 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last twelve months. There are currently 3 hold ratings, 11 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" CIEN shares.
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15 brokers have issued 1 year price objectives 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 $65.25 in the next twelve months. This suggests a possible upside of 27.1% from the stock's current price.
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Ciena's stock was trading at $50.98 at the beginning of the year. Since then, CIEN shares have increased by 0.7% and is now trading at $51.32.
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Ciena saw a drop in short interest in the month of March. As of March 15th, there was short interest totaling 3,880,000 shares, a drop of 5.4% from the February 28th total of 4,100,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is presently 2.4 days. Approximately 2.6% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, June 1st 2023.
View our CIEN earnings forecast.

Ciena Co. (NYSE:CIEN) issued its quarterly earnings results on Monday, March, 6th. The communications equipment provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.28. The communications equipment provider earned $1.06 billion during the quarter, compared to the consensus estimate of $959.04 million. Ciena had a trailing twelve-month return on equity of 8.22% and a net margin of 4.77%. Ciena's revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 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), iShares U.S. Telecommunications ETF (IYZ), SPDR S&P Telecom ETF (XTL), Future Fund Active ETF (FFND), iShares Future Cloud 5G and Tech ETF (IDAT), First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT), ProShares Ultra Communication Services (LTL) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD).

Ciena updated its second quarter 2023 earnings guidance on Monday, March, 6th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $1.03 billion-$1.11 billion, compared to the consensus revenue estimate of $1.04 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 a variety of retail and institutional investors. Top institutional shareholders include Bank of America Corp DE (2.44%), Alliancebernstein L.P. (2.34%), Neuberger Berman Group LLC (2.33%), BNP PARIBAS ASSET MANAGEMENT Holding S.A. (2.24%), Congress Asset Management Co. MA (2.19%) and Thrivent Financial for Lutherans (1.74%). 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 $51.32.

Ciena (NYSE:CIEN) has a market capitalization of $7.65 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 $1.22 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.