Ciena Corporation (NYSE:CIEN) has earned an average rating of “Buy” from the twenty-seven ratings firms that are presently covering the firm, reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $28.26.

CIEN has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating on shares of Ciena in a report on Friday, November 3rd. Citigroup raised shares of Ciena from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.87 to $29.00 in a report on Wednesday, August 30th. BidaskClub lowered shares of Ciena from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Nomura decreased their price target on shares of Ciena from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Ciena from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st.

In other Ciena news, VP Andrew C. Petrik sold 1,251 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $21.60, for a total transaction of $27,021.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Frodsham sold 2,000 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $22.00, for a total transaction of $44,000.00. The disclosure for this sale can be found here. Insiders sold a total of 89,052 shares of company stock valued at $1,898,778 in the last ninety days. 1.45% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ciena by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 517 shares during the period. Fortaleza Asset Management Inc. bought a new position in Ciena in the 2nd quarter worth $134,000. Acadian Asset Management LLC bought a new position in Ciena in the 2nd quarter worth $159,000. Howe & Rusling Inc. bought a new position in Ciena in the 3rd quarter worth $158,000. Finally, First Quadrant L P CA bought a new position in Ciena in the 3rd quarter worth $183,000.

Ciena (NYSE CIEN) opened at $20.93 on Monday. The company has a market cap of $2,993.89, a price-to-earnings ratio of 14.95, a PEG ratio of 0.86 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 quick ratio of 1.68, a current ratio of 1.93 and a debt-to-equity ratio of 0.27.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The company had revenue of $744.40 million during the quarter, compared to the consensus estimate of $736.91 million. Ciena had a return on equity of 18.32% and a net margin of 45.04%. Ciena’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. equities research analysts expect that Ciena will post 1.65 earnings per share for the current fiscal year.

Ciena announced that its Board of Directors has initiated a share buyback plan on Thursday, December 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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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.

Analyst Recommendations for Ciena (NYSE:CIEN)

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