Ciena (CIEN) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Ciena (NASDAQ:CIEN) released its earnings data on Thursday. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.29 by $0.03, Analyst Ratings Network.com reports.
Ciena (NASDAQ:CIEN) opened at 20.46 on Thursday. 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 $19.71 and a 200-day moving average of $21.17. The company’s market cap is $2.160 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 a related note, 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 investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $27.27.
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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