Analysts Expect Ciena Co. (NYSE:CIEN) Will Post Earnings of $0.63 Per Share

Wall Street analysts predict that Ciena Co. (NYSE:CIEN) will post $0.63 earnings per share for the current quarter, according to Zacks. Seven analysts have provided estimates for Ciena’s earnings. The highest EPS estimate is $0.68 and the lowest is $0.59. Ciena reported earnings per share of $0.53 during the same quarter last year, which would suggest a positive year over year growth rate of 18.9%. The company is scheduled to report its next earnings report on Thursday, December 12th.

On average, analysts expect that Ciena will report full year earnings of $2.16 per share for the current year, with EPS estimates ranging from $2.12 to $2.20. For the next fiscal year, analysts expect that the business will report earnings of $2.56 per share, with EPS estimates ranging from $2.36 to $2.75. Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Ciena.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, September 5th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.21. The company had revenue of $960.60 million for the quarter, compared to analysts’ expectations of $930.64 million. Ciena had a return on equity of 13.64% and a net margin of 6.77%. Ciena’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share.

A number of analysts recently commented on CIEN shares. Needham & Company LLC reiterated a “hold” rating on shares of Ciena in a report on Tuesday, September 3rd. JPMorgan Chase & Co. dropped their price target on Ciena from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. Stifel Nicolaus set a $54.00 price target on Ciena and gave the stock a “buy” rating in a report on Friday, September 6th. Barclays lifted their price target on Ciena from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, B. Riley lifted their price target on Ciena from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $48.35.

In other Ciena news, CEO Gary B. Smith sold 9,600 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $43.86, for a total value of $421,056.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrew C. Petrik sold 2,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.11, for a total value of $82,220.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,854 shares of company stock worth $3,009,833. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Stephens Inc. AR bought a new stake in shares of Ciena during the 3rd quarter valued at $233,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Ciena by 9,277.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,532 shares of the communications equipment provider’s stock valued at $99,000 after purchasing an additional 2,505 shares during the period. Beech Hill Advisors Inc. bought a new stake in shares of Ciena during the 3rd quarter valued at $275,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ciena by 6.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,104 shares of the communications equipment provider’s stock valued at $514,000 after purchasing an additional 800 shares during the period. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Ciena by 12.0% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 44,518 shares of the communications equipment provider’s stock valued at $1,746,000 after purchasing an additional 4,781 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Shares of NYSE:CIEN traded up $0.40 during mid-day trading on Monday, hitting $38.45. 1,301,921 shares of the company traded hands, compared to its average volume of 2,964,862. The stock has a market cap of $5.89 billion, a P/E ratio of 34.33, a P/E/G ratio of 1.17 and a beta of 1.06. The company has a current ratio of 2.90, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. Ciena has a 12-month low of $29.30 and a 12-month high of $46.78. The stock has a 50-day moving average price of $39.09 and a two-hundred day moving average price of $39.97.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, 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 solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Earnings History and Estimates for Ciena (NYSE:CIEN)

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