Ciena - CIEN Stock Forecast, Price & News

18 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Ciena in the last twelve months. There are currently 3 hold ratings and 15 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CIEN shares.
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18 Wall Street research analysts have issued 12-month target prices for Ciena's stock. Their CIEN share price forecasts range from $45.00 to $88.00. On average, they expect the company's share price to reach $65.32 in the next year. This suggests a possible upside of 52.6% from the stock's current price.
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Ciena's stock was trading at $76.97 at the start of the year. Since then, CIEN shares have decreased by 44.4% and is now trading at $42.81.
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Ciena saw a increase in short interest during the month of September. As of September 15th, there was short interest totaling 4,980,000 shares, an increase of 31.4% from the August 31st total of 3,790,000 shares. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 3.4% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, December 8th 2022.
View our CIEN earnings forecast.

Ciena Co. (NYSE:CIEN) issued its quarterly earnings results on Thursday, September, 1st. The communications equipment provider reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by $0.03. The communications equipment provider earned $867.30 million during the quarter, compared to analyst estimates of $903.95 million. Ciena had a trailing twelve-month return on equity of 8.91% and a net margin of 5.37%. The firm's quarterly revenue was down 12.2% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share.

Ciena issued an update on its fourth quarter 2022 earnings guidance on Thursday, September, 29th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $800.00 million-$880.00 million, compared to the consensus revenue estimate of $1.07 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 $42.81.

Ciena (NYSE:CIEN) has a market capitalization of $6.34 billion and generates $3.62 billion in revenue each year. The communications equipment provider earns $500.20 million in net income (profit) each year or $1.27 on an earnings per share basis.

The company employs 7,241 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.