Ciena Co. (NYSE:CIEN – Get Rating) SVP Rick Hamilton sold 2,540 shares of Ciena stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $40.79, for a total value of $103,606.60. Following the sale, the senior vice president now directly owns 64,247 shares in the company, valued at $2,620,635.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ciena Stock Performance

Shares of CIEN stock opened at $40.60 on Friday. The company has a quick ratio of 2.58, a current ratio of 3.48 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $49.00 and a two-hundred day moving average of $51.25. Ciena Co. has a 52 week low of $39.87 and a 52 week high of $78.28. The company has a market cap of $6.01 billion, a P/E ratio of 31.97, a PEG ratio of 3.31 and a beta of 0.91.

Ciena (NYSE:CIEN – Get Rating) last issued its quarterly earnings data on Thursday, September 1st. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $867.30 million for the quarter, compared to analyst estimates of $903.95 million. Ciena had a return on equity of 8.91% and a net margin of 5.37%. The business's quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. As a group, analysts anticipate that Ciena Co. will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Ciena

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group dropped their target price on Ciena from $66.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, June 3rd. JPMorgan Chase & Co. lowered Ciena from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $62.00 to $45.00 in a research report on Tuesday, September 6th. B. Riley dropped their target price on Ciena from $67.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, September 6th. Barclays dropped their target price on Ciena from $70.00 to $55.00 in a research report on Friday, September 2nd. Finally, MKM Partners began coverage on Ciena in a report on Thursday, August 4th. They issued a "buy" rating and a $62.00 price objective for the company. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Ciena currently has a consensus rating of "Moderate Buy" and an average target price of $65.32.

Ciena Company Profile

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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.

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