Ciena Corp. Receives “Positive” Rating from William Blair (CIEN)
Ciena Corp. (NASDAQ:CIEN)‘s stock had its “positive” rating reiterated by investment analysts at William Blair in a note issued to investors on Tuesday, American Banking News.com reports.
Ciena Corp. (NASDAQ:CIEN) opened at 25.00 on Tuesday. Ciena Corp. has a 52-week low of $14.14 and a 52-week high of $27.94. The stock has a 50-day moving average of $22.96 and a 200-day moving average of $23.36. The company’s market cap is $2.593 billion.
Ciena Corp. (NASDAQ:CIEN) last released its earnings data on Thursday, December 12th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.24 by $0.08. The company had revenue of $583.40 million for the quarter, compared to the consensus estimate of $568.51 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 25.3% on a year-over-year basis. On average, analysts predict that Ciena Corp. will post $0.90 earnings per share for the current fiscal year.
In other Ciena Corp. news, SVP Francois Locoh-Donou sold 23,143 shares of Ciena Corp. stock on the open market in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $22.57, for a total transaction of $522,337.51. Following the completion of the sale, the senior vice president now directly owns 223,713 shares of the company’s stock, valued at approximately $5,049,202. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
CIEN has been the subject of a number of other recent research reports. Analysts at Evercore Partners raised their price target on shares of Ciena Corp. from $28.00 to $32.00 in a research note on Tuesday. Separately, analysts at Zacks downgraded shares of Ciena Corp. from an “outperform” rating to a “neutral” rating in a research note on Friday, January 17th. They now have a $24.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Ciena Corp. in a research note on Friday, December 13th. They now have a $26.00 price target on the stock, down previously from $27.00. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. Ciena Corp. has a consensus rating of “Buy” and an average price target of $26.19.
Ciena Corporation (NASDAQ:CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.
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