Ciena Co. (NYSE:CIEN) VP James Frodsham sold 4,000 shares of Ciena stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $22.37, for a total transaction of $89,480.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Ciena Co. (NYSE CIEN) opened at $23.23 on Friday. 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 Co. has a 12-month low of $19.40 and a 12-month high of $27.98. The company has a market cap of $3,337.69, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.48 and a beta of 1.67.
Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $736.91 million. During the same period in the previous year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. equities research analysts expect that Ciena Co. will post 1 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Ciena in the 4th quarter worth approximately $871,000. MetLife Investment Advisors LLC purchased a new position in shares of Ciena in the 4th quarter worth approximately $3,284,000. Gotham Asset Management LLC grew its position in shares of Ciena by 1,777.6% in the 4th quarter. Gotham Asset Management LLC now owns 719,652 shares of the communications equipment provider’s stock worth $15,062,000 after buying an additional 681,324 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of Ciena by 18.2% in the 4th quarter. Glenmede Trust Co. NA now owns 15,794 shares of the communications equipment provider’s stock worth $330,000 after buying an additional 2,430 shares during the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Ciena by 37.3% in the 4th quarter. Verition Fund Management LLC now owns 16,289 shares of the communications equipment provider’s stock worth $341,000 after buying an additional 4,425 shares during the last quarter.
CIEN has been the subject of a number of research analyst reports. Bank of America upgraded shares of Ciena from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.98 to $28.00 in a report on Monday, November 27th. Zacks Investment Research upgraded shares of Ciena from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. BidaskClub lowered shares of Ciena from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Stifel Nicolaus reiterated a “buy” rating on shares of Ciena in a report on Friday, November 3rd. Finally, William Blair reiterated a “buy” rating on shares of Ciena in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $28.48.
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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