Wall Street analysts forecast that Ciena Corporation (NYSE:CIEN) will announce $0.50 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have made estimates for Ciena’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.55. Ciena posted earnings per share of $0.44 during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.6%. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, December 7th.

On average, analysts expect that Ciena will report full year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.81. For the next fiscal year, analysts expect that the firm will post earnings of $1.96 per share, with EPS estimates ranging from $1.75 to $2.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Ciena.

CIEN has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Ciena from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. B. Riley dropped their price objective on Ciena from $30.50 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price objective on shares of Ciena in a research note on Friday, September 1st. BidaskClub downgraded Ciena from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Finally, William Blair reissued a “buy” rating on shares of Ciena in a research note on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $29.30.

Shares of Ciena (CIEN) opened at $21.17 on Thursday. Ciena has a 52-week low of $19.40 and a 52-week high of $27.98. The company has a market capitalization of $3,059.24, a PE ratio of 15.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.67. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.92 and a quick ratio of 2.50.

In other news, VP Andrew C. Petrik sold 1,251 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $21.60, for a total value of $27,021.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $21.46, for a total value of $42,920.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,052 shares of company stock worth $1,898,778. 1.45% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP bought a new position in Ciena during the third quarter valued at $33,373,000. Algert Global LLC grew its holdings in Ciena by 48.5% during the third quarter. Algert Global LLC now owns 128,474 shares of the communications equipment provider’s stock valued at $2,823,000 after purchasing an additional 41,959 shares during the period. Neuberger Berman Group LLC grew its holdings in Ciena by 169.5% during 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 purchasing an additional 2,652,791 shares during the period. PVG Asset Management Corp bought a new position in Ciena during the third quarter valued at $674,000. Finally, California Public Employees Retirement System grew its holdings in Ciena by 5.1% during the third quarter. California Public Employees Retirement System now owns 319,658 shares of the communications equipment provider’s stock valued at $7,023,000 after purchasing an additional 15,588 shares during the period.

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Ciena Company Profile

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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Earnings History and Estimates for Ciena (NYSE:CIEN)

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