Ciena Co. (NYSE:CIEN - Get Free Report) SVP Joseph Cumello sold 3,156 shares of the firm's stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $45.74, for a total transaction of $144,355.44. Following the completion of the sale, the senior vice president now owns 51,171 shares of the company's stock, valued at approximately $2,340,561.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Ciena Trading Down 0.6 %
NYSE CIEN opened at $44.78 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.12 and a current ratio of 4.29. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The company's 50-day simple moving average is $52.30 and its two-hundred day simple moving average is $48.22. Ciena Co. has a one year low of $39.94 and a one year high of $63.24.
Ciena (NYSE:CIEN - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.18. Ciena had a net margin of 5.22% and a return on equity of 9.92%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. The company's quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts forecast that Ciena Co. will post 1.46 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Trump’s last act as President
From Porter & Company | Ad
You’ve probably never heard of Executive Order #13972.
Signed by President Trump just days before leaving office, it greenlit what could be the most revolutionary technology of the decade… yet it has nothing to do with AI, blockchain, or mRNA vaccines.
For the full story, click here.
Several research firms have recently issued reports on CIEN. JPMorgan Chase & Co. raised their target price on shares of Ciena from $56.00 to $67.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. Needham & Company LLC raised their price target on shares of Ciena from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, March 4th. Evercore ISI raised their price target on shares of Ciena from $57.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Citigroup started coverage on shares of Ciena in a research note on Friday, April 12th. They issued a "sell" rating and a $44.00 price target on the stock. Finally, StockNews.com raised shares of Ciena from a "sell" rating to a "hold" rating in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $58.79.
Get Our Latest Stock Report on Ciena
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of CIEN. Raymond James Financial Services Advisors Inc. grew its position in shares of Ciena by 0.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,651 shares of the communications equipment provider's stock worth $1,737,000 after buying an additional 252 shares during the last quarter. American Century Companies Inc. boosted its stake in Ciena by 11.0% in the 1st quarter. American Century Companies Inc. now owns 17,204 shares of the communications equipment provider's stock worth $1,043,000 after purchasing an additional 1,708 shares in the last quarter. Bank of Montreal Can boosted its stake in Ciena by 0.6% in the 1st quarter. Bank of Montreal Can now owns 36,296 shares of the communications equipment provider's stock worth $2,227,000 after purchasing an additional 220 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Ciena by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,753,752 shares of the communications equipment provider's stock worth $106,335,000 after purchasing an additional 41,815 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Ciena by 40.6% in the 1st quarter. Vontobel Holding Ltd. now owns 19,106 shares of the communications equipment provider's stock worth $1,172,000 after purchasing an additional 5,516 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company's stock.
Ciena Company Profile
(
Get Free Report)
Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
