Ciena Co. (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of Ciena stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $37.73, for a total transaction of $75,460.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
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CIEN stock opened at $36.70 on Wednesday. Ciena Co. has a 1 year low of $30.67 and a 1 year high of $46.78. The company has a 50 day simple moving average of $37.40 and a 200 day simple moving average of $39.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.90 and a quick ratio of 2.45. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 32.77, a P/E/G ratio of 0.97 and a beta of 1.06.
Ciena (NYSE:CIEN) last posted its earnings results on Thursday, September 5th. The communications equipment provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.50 by $0.21. The business had revenue of $960.60 million for the quarter, compared to the consensus estimate of $930.64 million. Ciena had a net margin of 6.77% and a return on equity of 13.64%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. On average, equities research analysts anticipate that Ciena Co. will post 1.88 EPS for the current fiscal year.
A number of equities analysts have commented on CIEN shares. MKM Partners set a $51.00 price objective on Ciena and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Barclays increased their target price on Ciena from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Piper Jaffray Companies set a $46.00 price target on Ciena and gave the stock a “hold” rating in a research report on Friday, September 6th. ValuEngine downgraded Ciena from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Stifel Nicolaus set a $54.00 target price on shares of Ciena and gave the company a “buy” rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $48.48.
Several institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC raised its position in shares of Ciena by 98.5% during the second quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 320 shares during the last quarter. Tobam acquired a new stake in Ciena during the 2nd quarter valued at approximately $33,000. CENTRAL TRUST Co bought a new position in Ciena during the third quarter worth $39,000. Coastal Capital Group Inc. acquired a new stake in Ciena during the second quarter worth approximately $41,000. Finally, MUFG Americas Holdings Corp bought a new stake in Ciena in the third quarter worth approximately $55,000. 91.13% of the stock is currently owned by institutional investors.
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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