Ciena Co. (NYSE:CIEN) Receives Consensus Rating of “Buy” from Analysts

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Ciena Co. (NYSE:CIEN) has been assigned an average rating of “Buy” from the twenty-seven analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $46.95.

A number of research firms have recently commented on CIEN. Jefferies Financial Group lifted their target price on Avid Technology from $6.50 to $8.50 and gave the stock a “hold” rating in a research report on Friday, June 7th. Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Raymond James lifted their target price on Maverix Metals from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Rosenblatt Securities reiterated a “hold” rating and set a $38.00 target price on shares of Ciena in a research report on Monday, June 3rd. Finally, Stifel Nicolaus lifted their target price on Vail Resorts from $219.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, June 7th.

In other Ciena news, CEO Gary B. Smith sold 4,800 shares of Ciena stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $40.15, for a total value of $192,720.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James E. Moylan, Jr. sold 2,000 shares of Ciena stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $38.65, for a total value of $77,300.00. The disclosure for this sale can be found here. Insiders sold a total of 91,333 shares of company stock worth $3,558,099 in the last 90 days. 1.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mizuho Securities Co. Ltd. purchased a new stake in Ciena in the 1st quarter valued at approximately $37,000. Investors Research Corp purchased a new stake in Ciena in the 1st quarter valued at approximately $39,000. PRW Wealth Management LLC purchased a new stake in Ciena in the 4th quarter valued at approximately $38,000. FinTrust Capital Advisors LLC purchased a new stake in Ciena in the 1st quarter valued at approximately $57,000. Finally, Mascoma Wealth Management LLC boosted its holdings in Ciena by 175.4% in the 1st quarter. Mascoma Wealth Management LLC now owns 1,570 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 1,000 shares in the last quarter. 92.91% of the stock is currently owned by institutional investors.

NYSE CIEN traded up $0.08 during trading on Tuesday, reaching $44.08. 1,918,101 shares of the company’s stock were exchanged, compared to its average volume of 3,278,286. The firm has a market cap of $6.84 billion, a PE ratio of 39.36, a P/E/G ratio of 1.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.36 and a current ratio of 2.83. The stock has a 50 day simple moving average of $41.13. Ciena has a 1 year low of $25.18 and a 1 year high of $46.23.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. During the same period in the previous year, the business earned $0.23 EPS. Ciena’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, research analysts anticipate that Ciena will post 1.72 earnings per share for the current fiscal year.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, 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 solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Analyst Recommendations for Ciena (NYSE:CIEN)

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