Trading Report: Today: Ciena Corp. (CIEN) Receives Consensus Recommendation of “Buy” from Analysts

Today: Ciena Corp. (CIEN) Receives Consensus Recommendation of “Buy” from Analysts

Ciena Corp. (NYSE:CIEN) has earned an average recommendation of “Buy” from the twenty-two analysts that are currently covering the stock. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $25.98.

Several brokerages have commented on CIEN. B. Riley restated a “buy” rating and set a $28.50 price objective on shares of Ciena Corp. in a research report on Sunday, September 4th. Argus restated a “buy” rating and set a $30.00 price objective on shares of Ciena Corp. in a research report on Friday, September 2nd. BMO Capital Markets boosted their price objective on shares of Ciena Corp. to $27.00 and gave the company an “outperform” rating in a research report on Friday, September 2nd. Morgan Stanley downgraded shares of Ciena Corp. from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $23.17 to $23.00 in a research report on Friday, September 2nd. They noted that the move was a valuation call. Finally, Dougherty & Co upped their price target on shares of Ciena Corp. from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, September 2nd.

In other Ciena Corp. news, COO Francois Locoh-Donou sold 13,202 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $21.08, for a total value of $278,298.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary B. Smith sold 8,000 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $21.94, for a total transaction of $175,520.00. The disclosure for this sale can be found here. 1.72% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. E&G Advisors LP purchased a new stake in Ciena Corp. during the second quarter valued at approximately $339,000. Bank of Montreal Can purchased a new stake in Ciena Corp. during the second quarter valued at approximately $956,000. John G Ullman & Associates Inc. raised its stake in Ciena Corp. by 114.5% in the second quarter. John G Ullman & Associates Inc. now owns 170,500 shares of the company’s stock valued at $3,197,000 after buying an additional 91,000 shares during the period. Oakbrook Investments LLC purchased a new stake in Ciena Corp. during the second quarter valued at approximately $199,000. Finally, LS Investment Advisors LLC raised its stake in Ciena Corp. by 70.1% in the second quarter. LS Investment Advisors LLC now owns 7,664 shares of the company’s stock valued at $144,000 after buying an additional 3,159 shares during the period. Hedge funds and other institutional investors own 96.91% of the company’s stock.

Ciena Corp. (NYSE:CIEN) traded down 4.10% on Monday, hitting $21.53. The stock had a trading volume of 1,832,170 shares. The company has a market capitalization of $3.00 billion, a PE ratio of 132.90 and a beta of 1.72. The company has a 50 day moving average of $20.87 and a 200 day moving average of $20.31. Ciena Corp. has a 12-month low of $15.62 and a 12-month high of $25.46.

Ciena Corp. (NYSE:CIEN) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. Ciena Corp. had a net margin of 0.86% and a return on equity of 22.41%. The business earned $670.60 million during the quarter, compared to the consensus estimate of $672.23 million. During the same period in the previous year, the business earned $0.37 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that Ciena Corp. will post $1.43 earnings per share for the current year.

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