Ciena Price Target Lowered to $19.00 at RBC Capital (CIEN)
Research analysts at RBC Capital cut their price objective on shares of Ciena (NASDAQ:CIEN) from $21.00 to $19.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 2.65% from the stock’s previous close.
A number of other analysts have also recently weighed in on CIEN. Analysts at Goldman Sachs upgraded shares of Ciena from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $26.00 price target on the stock, up previously from $18.51. Separately, analysts at BMO Capital Markets cut their price target on shares of Ciena from $30.00 to $24.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $26.75.
Shares of Ciena (NASDAQ:CIEN) opened at 19.1299 on Friday. 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 $19.66 and its 200-day moving average is $21.15. The company’s market cap is $2.020 billion.
Ciena (NASDAQ:CIEN) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.03. The company had revenue of $603.60 million for the quarter, compared to the consensus estimate of $600.81 million. During the same quarter last year, the company posted $0.23 earnings per share. Ciena’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that Ciena will post $0.92 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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