Equities analysts predict that Ciena Co. (NYSE:CIEN) will post $0.12 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Ciena’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.15. Ciena posted earnings per share of $0.26 in the same quarter last year, which would suggest a negative year over year growth rate of 53.8%. The firm is expected to issue its next quarterly earnings results on Wednesday, March 14th.
On average, analysts expect that Ciena will report full-year earnings of $1.21 per share for the current year, with EPS estimates ranging from $1.06 to $1.32. For the next year, analysts forecast that the business will report earnings of $1.59 per share, with EPS estimates ranging from $1.40 to $1.78. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Ciena.
Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). Ciena had a return on equity of 18.32% and a net margin of 45.04%. The firm had revenue of $744.40 million for the quarter, compared to analyst estimates of $736.91 million. During the same period in the prior year, the business earned $0.44 earnings per share. Ciena’s revenue for the quarter was up 3.9% on a year-over-year basis.
Shares of Ciena (CIEN) opened at $22.39 on Tuesday. Ciena has a 12 month low of $19.40 and a 12 month high of $27.98. The stock has a market cap of $3,196.87, a PE ratio of 2.80, a price-to-earnings-growth ratio of 1.42 and a beta of 1.67. The company has a current ratio of 1.93, a quick ratio of 1.68 and a debt-to-equity ratio of 0.27.
Ciena declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 7th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Ciena news, VP David M. Rothenstein sold 2,000 shares of Ciena stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $19.50, for a total transaction of $39,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew C. Petrik sold 3,800 shares of Ciena stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $21.22, for a total transaction of $80,636.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,743 shares of company stock worth $4,752,121. 1.45% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CIEN. Howe & Rusling Inc. purchased a new stake in shares of Ciena during the third quarter valued at approximately $158,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ciena by 47.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 2,403 shares during the period. First Quadrant L P CA purchased a new stake in shares of Ciena during the third quarter valued at approximately $183,000. Advisor Group Inc. raised its stake in shares of Ciena by 6.4% during the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after purchasing an additional 604 shares during the period. Finally, Oakbrook Investments LLC purchased a new stake in shares of Ciena during the third quarter valued at approximately $235,000.
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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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