Press coverage about Ciena (NYSE:CIEN) has been trending somewhat positive recently, according to Accern Sentiment. The research group ranks the sentiment of news coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Ciena earned a news impact score of 0.20 on Accern’s scale. Accern also gave media coverage about the communications equipment provider an impact score of 46.5514789068883 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news headlines that may have effected Accern Sentiment Analysis’s rankings:
- Ciena acquires software specialist DonRiver (telecompaper.com)
- Ciena Bolsters Blue Planet With OSS Acquisition (lightreading.com)
- Get Insight How Embedded Intelligent Systems Market Projected to Propel by Emerging companies (Ciena, Mindtree, DFKI, Advantech, Enea, Express Logic) (itbusinessnet.com)
- Ciena Buying DonRiver To Boost ‘Adaptive Network’ Automation Strategy (crn.com)
- Ciena Buys DonRiver to Boost Blue Planet Portfolio (sdxcentral.com)
A number of analysts have weighed in on CIEN shares. MKM Partners lowered shares of Ciena to a “buy” rating and set a $32.00 price objective for the company. in a research note on Wednesday, July 18th. Deutsche Bank lifted their price target on shares of Ciena from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, August 31st. Zacks Investment Research upgraded shares of Ciena from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, June 5th. Loop Capital reiterated a “buy” rating and issued a $36.00 price target on shares of Ciena in a research note on Thursday, August 30th. Finally, Citigroup lifted their price target on shares of Ciena from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $32.28.
CIEN opened at $31.34 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $4.51 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36. Ciena has a 12-month low of $19.40 and a 12-month high of $32.33.
Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.12. The company had revenue of $818.82 million for the quarter, compared to the consensus estimate of $792.28 million. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. equities research analysts predict that Ciena will post 0.99 earnings per share for the current year.
In related news, VP James Frodsham sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $24.81, for a total value of $49,620.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Stephen B. Alexander sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $24.80, for a total transaction of $62,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 75,262 shares of company stock worth $1,957,276. 1.38% of the stock is currently owned by insiders.
Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data 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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