Ciena Corporation (NYSE:CIEN) – Equities researchers at Jefferies Group lowered their Q4 2017 EPS estimates for Ciena in a report issued on Monday. Jefferies Group analyst G. Notter now forecasts that the communications equipment provider will earn $0.41 per share for the quarter, down from their prior estimate of $0.42. Jefferies Group also issued estimates for Ciena’s Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.54 EPS and Q1 2019 earnings at $0.37 EPS.

A number of other research analysts have also recently issued reports on CIEN. B. Riley cut their price target on Ciena from $30.50 to $28.00 and set a “buy” rating for the company in a report on Tuesday. MKM Partners restated a “buy” rating and set a $30.00 target price on shares of Ciena in a research report on Tuesday, September 26th. ValuEngine lowered Ciena from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Northland Securities set a $32.00 target price on Ciena and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective (down previously from $31.00) on shares of Ciena in a research note on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $29.30.

Ciena (CIEN) opened at $21.60 on Tuesday. The stock has a market capitalization of $3,100.62, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 0.85 and a beta of 1.67. Ciena has a twelve month low of $19.40 and a twelve month high of $27.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.92.

Institutional investors and hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in shares of Ciena by 169.5% in the third quarter. Neuberger Berman Group LLC now owns 4,217,455 shares of the communications equipment provider’s stock valued at $92,657,000 after buying an additional 2,652,791 shares during the last quarter. Rubric Capital Management LP purchased a new position in shares of Ciena in the third quarter valued at $33,373,000. Becker Capital Management Inc. acquired a new stake in shares of Ciena during the third quarter worth $27,188,000. Artemis Investment Management LLP acquired a new stake in shares of Ciena in the 2nd quarter worth about $28,400,000. Finally, FIL Ltd bought a new position in Ciena in the 2nd quarter valued at about $23,010,000.

In other news, CEO Gary B. Smith sold 12,634 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $21.25, for a total transaction of $268,472.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $21.46, for a total transaction of $42,920.00. The disclosure for this sale can be found here. In the last three months, insiders sold 91,052 shares of company stock valued at $1,942,338. 1.45% of the stock is currently owned by corporate insiders.

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About Ciena

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 (NYSE:CIEN)

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