Zacks: Analysts Expect Ciena Corporation (CIEN) Will Post Quarterly Sales of $738.05 Million
Analysts expect Ciena Corporation (NYSE:CIEN) to announce $738.05 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Ciena Corporation’s earnings, with the highest sales estimate coming in at $743.10 million and the lowest estimate coming in at $734.58 million. Ciena Corporation posted sales of $716.19 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The business is expected to report its next quarterly earnings results on Thursday, December 14th.
According to Zacks, analysts expect that Ciena Corporation will report full year sales of $738.05 million for the current fiscal year, with estimates ranging from $2.79 billion to $2.81 billion. For the next year, analysts forecast that the company will post sales of $2.97 billion per share, with estimates ranging from $2.90 billion to $3.09 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Ciena Corporation.
Ciena Corporation (NYSE:CIEN) last announced its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The company had revenue of $728.70 million during the quarter, compared to the consensus estimate of $726.81 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year.
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Shares of Ciena Corporation (CIEN) opened at 21.60 on Thursday. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The firm has a market cap of $3.08 billion, a P/E ratio of 23.63 and a beta of 1.69. The stock’s 50 day moving average price is $22.22 and its 200-day moving average price is $23.83.
In other news, VP Andrew C. Petrik sold 1,258 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $24.44, for a total transaction of $30,745.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP David M. Rothenstein sold 2,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $25.69, for a total transaction of $51,380.00. The disclosure for this sale can be found here. Insiders sold a total of 86,310 shares of company stock worth $1,995,014 over the last quarter. Company insiders own 1.45% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Ciena Corporation by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock worth $518,000 after purchasing an additional 58 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Ciena Corporation by 1.3% during the 2nd quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock worth $262,000 after purchasing an additional 130 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Ciena Corporation by 1.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock worth $269,000 after purchasing an additional 200 shares during the last quarter. World Asset Management Inc increased its stake in shares of Ciena Corporation by 2.8% during the 2nd quarter. World Asset Management Inc now owns 8,935 shares of the communications equipment provider’s stock worth $224,000 after purchasing an additional 243 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Ciena Corporation by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 11,289 shares of the communications equipment provider’s stock worth $282,000 after purchasing an additional 300 shares during the last quarter.
About Ciena Corporation
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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