Ciena Corporation (NYSE:CIEN) – Analysts at William Blair dropped their Q1 2018 EPS estimates for Ciena Corporation in a report released on Monday. William Blair analyst D. Netis now forecasts that the communications equipment provider will post earnings of $0.25 per share for the quarter, down from their previous estimate of $0.29. William Blair has a “Buy” rating on the stock. William Blair also issued estimates for Ciena Corporation’s Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $1.66 EPS.

Ciena Corporation (NYSE:CIEN) last released its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year.

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A number of other research firms have also weighed in on CIEN. BidaskClub lowered shares of Ciena Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Ciena Corporation in a research note on Friday, July 21st. Northland Securities set a $32.00 price objective on shares of Ciena Corporation and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, ValuEngine lowered shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $29.53.

Shares of Ciena Corporation (CIEN) opened at $19.50 on Wednesday. Ciena Corporation has a one year low of $19.49 and a one year high of $27.98. The firm has a market cap of $2,800.00, a PE ratio of 14.27, a P/E/G ratio of 0.73 and a beta of 1.64. The company has a quick ratio of 2.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.99.

Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ciena Corporation by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 517 shares during the period. Fortaleza Asset Management Inc. acquired a new stake in shares of Ciena Corporation during the 2nd quarter worth approximately $134,000. Acadian Asset Management LLC acquired a new stake in shares of Ciena Corporation during the 2nd quarter worth approximately $159,000. Howe & Rusling Inc. acquired a new stake in shares of Ciena Corporation during the 3rd quarter worth approximately $158,000. Finally, TNB Financial acquired a new stake in shares of Ciena Corporation during the 2nd quarter worth approximately $200,000.

In other news, CEO Gary B. Smith sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $23.27, for a total transaction of $186,160.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $21.25, for a total transaction of $42,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,052 shares of company stock worth $1,821,578. 1.45% of the stock is owned by corporate insiders.

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.

Earnings History and Estimates for Ciena Corporation (NYSE:CIEN)

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