Ciena (CIEN) Set to Announce Quarterly Earnings on Thursday
Ciena (NASDAQ:CIEN) is scheduled to be issuing its Q314 quarterly earnings data on Thursday, September 4th. Analysts expect the company to announce earnings of $0.29 per share and revenue of $600.81 million for the quarter. Parties interested in participating in the company’s conference call can do so using this link.
Ciena (NASDAQ:CIEN) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts expect Ciena to post $0.95 EPS for the current fiscal year and $1.40 EPS for the next fiscal year.
Shares of Ciena (NASDAQ:CIEN) opened at 20.16 on Wednesday. Ciena has a one year low of $18.00 and a one year high of $27.94. The stock’s 50-day moving average is $19.70 and its 200-day moving average is $21.17. The company’s market cap is $2.129 billion.
A number of research firms have recently commented on CIEN. Analysts at RBC Capital cut their price target on shares of Ciena from $24.00 to $21.00 in a research note on Tuesday, August 19th. They now have a “sector perform” rating on the stock. On the ratings front, analysts at Zacks downgraded shares of Ciena from an “outperform” rating to a “neutral” rating in a research note on Monday, August 18th. They now have a $20.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.31.
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.