Recent Research Analysts’ Ratings Updates for Ciena (CIEN)

Several brokerages have updated their recommendations and price targets on shares of Ciena (NYSE: CIEN) in the last few weeks:

  • 3/19/2018 – Ciena had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $34.00 price target on the stock.
  • 3/13/2018 – Ciena was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “Ciena’s first-quarter fiscal 2018 results gain from strong growth in Asia Pacific, especially in India, as well as high adoption of Blue Planet and Waveserver platforms. The company is benefiting from increasing demand for Packet Optical, Packet Networking and Optical Transport products. Increasing usage of service management software in the global communication market is a key catalyst. Moreover, the company’s efforts to expand in data center connectivity and broaden its reach in the end-to-end optical and data equipment market is commendable. Further, the Verizon project remains a long-term growth driver along with opportunities in DCI and submarine vertical.  The stock has outperformed the industry to which it belongs in the last one year. However, strengthening competition in the networking industry is a concern.”
  • 3/9/2018 – Ciena had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $29.00 price target on the stock, up previously from $25.00.
  • 3/9/2018 – Ciena had its price target raised by analysts at Citigroup from $30.00 to $32.00. They now have a “buy” rating on the stock.
  • 3/9/2018 – Ciena was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 3/7/2018 – Ciena had its price target raised by analysts at BMO Capital Markets to $32.00. They now have an “outperform” rating on the stock.
  • 3/7/2018 – Ciena had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $31.00 price target on the stock.
  • 3/7/2018 – Ciena had its price target raised by analysts at MKM Partners to $32.00. They now have a “buy” rating on the stock.
  • 3/7/2018 – Ciena had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $29.00 price target on the stock, up previously from $24.00.
  • 3/7/2018 – Ciena had its price target raised by analysts at B. Riley from $27.50 to $31.00. They now have a “buy” rating on the stock.
  • 3/6/2018 – Ciena had its “neutral” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $27.00 price target on the stock, up previously from $22.00.
  • 3/6/2018 – Ciena had its “buy” rating reaffirmed by analysts at Northland Securities.
  • 3/6/2018 – Ciena had its price target raised by analysts at Stifel Nicolaus from $28.00 to $31.00. They now have a “buy” rating on the stock.
  • 3/5/2018 – Ciena was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Ciena competes against much larger players in the networking industry, which is a major obstacle for the company. Customer concentration has also been a major factor for Ciena. Given the competitive nature of the industry, the loss of any one of its key customers would severely impact results, going forward. Uncertainty related to government business and macroeconomic volatility is a headwind. The company has mixed record of earnings surprises in recent quarters. However, Ciena is likely to benefit from rising demand for its products like WaveServer and expanding international presence. The stock has outperformed the industry to which it belongs in the last one year.”
  • 3/5/2018 – Ciena had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $25.00 price target on the stock.
  • 2/12/2018 – Ciena was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Ciena is benefiting from increasing demand for Packet Optical, Packet Networking and Optical Transport products. Increasing usage of service management software in the global communication market is a key catalyst. Moreover, the company’s efforts to expand in data center connectivity and broaden its reach in the end-to-end optical and data equipment market is commendable. However, Ciena competes against much larger players in the networking industry, which is a major obstacle for the company. Customer concentration has also been a major factor for Ciena. Uncertainty related to government business and macroeconomic volatility is another headwind. Shares outperformed the industry in the last one year.”

Shares of CIEN stock opened at $26.60 on Wednesday. Ciena Co. has a 52-week low of $19.40 and a 52-week high of $27.98. The company has a market cap of $3,851.89, a PE ratio of 5.70, a price-to-earnings-growth ratio of 1.60 and a beta of 1.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.79 and a current ratio of 2.06.

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Ciena (NYSE:CIEN) last released its quarterly earnings results on Tuesday, March 6th. The communications equipment provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. Ciena had a net margin of 27.76% and a return on equity of 14.10%. The company had revenue of $646.14 million for the quarter, compared to the consensus estimate of $641.77 million. During the same period in the previous year, the firm earned $0.17 EPS. Ciena’s revenue was up 4.0% on a year-over-year basis. sell-side analysts anticipate that Ciena Co. will post 1.08 earnings per share for the current fiscal year.

In related news, VP David M. Rothenstein sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $26.95, for a total value of $53,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott Mcfeely sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $26.95, for a total transaction of $26,950.00. The disclosure for this sale can be found here. Insiders sold a total of 229,743 shares of company stock worth $5,018,761 over the last quarter. Insiders own 1.38% of the company’s stock.

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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