Ciena CFO James E. Moylan, Jr. Sells 1,000 Shares (CIEN)
Ciena (NASDAQ:CIEN) CFO James E. Moylan, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $21.96, for a total transaction of $21,960.00. Following the transaction, the chief financial officer now directly owns 370,337 shares of the company’s stock, valued at approximately $8,132,601. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on CIEN shares. Analysts at Cowen and Company cut their price target on shares of Ciena from $32.00 to $31.00 in a research note on Friday, June 6th. Separately, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Ciena in a research note on Thursday, June 5th. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ciena in a research note on Tuesday, June 3rd. They now have a $22.00 price target on the stock, down previously from $25.00. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $27.88.
Ciena (NASDAQ:CIEN) opened at 22.17 on Monday. Ciena has a 1-year low of $18.00 and a 1-year high of $27.94. The stock has a 50-day moving average of $21.06 and a 200-day moving average of $22.08. The company’s market cap is $2.341 billion.
Ciena (NASDAQ:CIEN) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $560.10 million for the quarter, compared to the consensus estimate of $559.18 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that Ciena will post $0.96 EPS for the current fiscal year.
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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