Several analysts have recently updated their ratings and price targets for Ciena Corporation (NYSE: CIEN):

  • 9/20/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Nomura. They now have a $28.00 price target on the stock.
  • 9/8/2017 – Ciena Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Ciena reported impressive third-quarter fiscal 2017 results. Both earnings and revenues were better than the Zacks Consensus Estimate and improved on a year-over-year basis. The results showed that the company’s diversified product portfolio is helping it to expand its customer base. We note that Ciena’s WaveServer platform gained significant traction in the reported quarter. The company is well poised to gain in the optical data center interconnect (DCI) market. Besides developing 5G technologies for service providers and Fiber Deep cable MSO customers, the company will also have a positive role to play in further fiber densification of the network. Moreover, strong international growth opportunity particularly in the Asia-Pacific market is positive in our view. However, intensifying competition, uncertainty related to government business and macroeconomic volatility are major headwinds.”
  • 9/3/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $30.50 price target on the stock.
  • 9/3/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $30.00 price target on the stock.
  • 9/1/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $30.00 price target on the stock.
  • 9/1/2017 – Ciena Corporation had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $22.00 price target on the stock, down previously from $24.00.
  • 9/1/2017 – Ciena Corporation had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $28.00 price target on the stock, down previously from $32.00.
  • 9/1/2017 – Ciena Corporation had its price target lowered by analysts at Dougherty & Co from $32.00 to $27.00. They now have a “buy” rating on the stock.
  • 9/1/2017 – Ciena Corporation had its price target lowered by analysts at Nomura from $30.00 to $28.00. They now have a “buy” rating on the stock.
  • 9/1/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $31.00 price target on the stock.
  • 8/31/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $30.00 price target on the stock.
  • 8/31/2017 – Ciena Corporation had its “outperform” rating reaffirmed by analysts at William Blair.
  • 8/31/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at MKM Partners.
  • 8/30/2017 – Ciena Corporation was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $29.00 price target on the stock, up previously from $23.87.
  • 8/30/2017 – Ciena Corporation was given a new $31.00 price target on by analysts at UBS AG. They now have a “buy” rating on the stock.
  • 8/29/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $34.25 price target on the stock. They wrote, “We believe the headwind is mainly due to various M&A activity among service providers, which we believe will be diminishing in the next quarter or two.  NA Telco. T and VZ were 10% customers, representing 28% of sales, and we expect both to trend up in FY18 as they are in the early stages of metro upgrade cycles.  WaveServer. The WaveServer product line had a record revenue quarter in F3Q, and is on pace to exceed $100MM in FY17 (less than $10MM in FY16). We believe CIEN is gaining market share from ADVA (ADV.DE; N/R) at Amazon (AMZN; N/R).  APAC. Led by India, APAC was up 41.6% Y/Y and represented 15.9% of sales.””
  • 8/24/2017 – Ciena Corporation had its “outperform” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 8/18/2017 – Ciena Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/14/2017 – Ciena Corporation was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/7/2017 – Ciena Corporation was given a new $32.00 price target on by analysts at Northland Securities. They now have a “buy” rating on the stock.
  • 8/3/2017 – Ciena Corporation had its “buy” rating reaffirmed by analysts at William Blair.
  • 8/2/2017 – Ciena Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Ciena is benefiting from increasing demand for Packet Optical, Packet Networking and Optical Transport products. Increasing usage of service management software in the global communication market is a key catalyst. Moreover, the company’s efforts toward expanding footprint in data-center connectivity and enhancing its reach into a broader end-to-end optical and data-equipment market, is commendable. Further, the Verizon project remains a long-term growth driver along with opportunities in DCI and submarine vertical. However, Ciena’s highly leveraged balance sheet doesn't augur well for investors. Also, intensifying competition and customer concentration are major concerns. Notably, the company has underperformed the industry on a year-to-date basis.”
  • 7/24/2017 – Ciena Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Ciena Corporation (CIEN) traded down 0.581% during mid-day trading on Thursday, hitting $21.375. 2,666,162 shares of the stock traded hands. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The company’s 50 day moving average is $23.44 and its 200 day moving average is $24.06. The company has a market cap of $3.05 billion, a P/E ratio of 23.386 and a beta of 1.68.

Ciena Corporation (NYSE:CIEN) last released its earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The firm had revenue of $728.70 million for the quarter, compared to the consensus estimate of $726.81 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts expect that Ciena Corporation will post $1.74 earnings per share for the current fiscal year.

In other news, CEO Gary B. Smith sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $26.25, for a total value of $105,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $26.04, for a total transaction of $52,080.00. The disclosure for this sale can be found here. Insiders sold 69,509 shares of company stock worth $1,701,747 in the last three months. Insiders own 1.45% of the company’s stock.

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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