Ciena Co. (NYSE:CIEN – Get Rating) CEO Gary B. Smith sold 3,542 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $44.68, for a total transaction of $158,256.56. Following the sale, the chief executive officer now directly owns 427,879 shares in the company, valued at $19,117,633.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Ciena stock traded up $1.96 during trading hours on Thursday, reaching $46.14. 2,477,275 shares of the stock were exchanged, compared to its average volume of 1,663,729. The stock has a market cap of $6.91 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.80 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.10 and a current ratio of 3.72. Ciena Co. has a 52-week low of $41.63 and a 52-week high of $78.28. The firm’s 50 day moving average is $51.02 and its 200 day moving average is $61.09.
Ciena (NYSE:CIEN – Get Rating) last announced its quarterly earnings data on Thursday, June 2nd. The communications equipment provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The firm had revenue of $949.20 million for the quarter, compared to analysts’ expectations of $950.86 million. Ciena had a return on equity of 12.18% and a net margin of 11.15%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Equities research analysts expect that Ciena Co. will post 1.65 EPS for the current fiscal year.
Several research analysts have commented on CIEN shares. Evercore ISI lowered their price target on shares of Ciena to $60.00 in a report on Friday, June 3rd. Cowen lowered their price target on shares of Ciena from $96.00 to $82.00 and set an “outperform” rating for the company in a report on Monday, June 6th. StockNews.com initiated coverage on shares of Ciena in a report on Thursday, March 31st. They issued a “hold” rating for the company. Cowen lowered their target price on shares of Ciena from $96.00 to $82.00 in a report on Monday, June 6th. Finally, Raymond James lowered their target price on shares of Ciena from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, March 8th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.71.
Ciena Company Profile (Get Rating)
Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
- Get a free copy of the StockNews.com research report on Ciena (CIEN)
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