Ciena Co. (NYSE:CIEN – Get Rating) CEO Gary B. Smith sold 3,542 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $41.35, for a total value of $146,461.70. Following the transaction, the chief executive officer now owns 406,627 shares of the company's stock, valued at $16,814,026.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Ciena Price Performance

Shares of CIEN opened at $41.04 on Friday. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 3.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.58 and a current ratio of 3.48. Ciena Co. has a one year low of $40.17 and a one year high of $78.28. The stock's fifty day moving average is $49.14 and its 200-day moving average is $51.43.

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

Institutional Inflows and Outflows

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. MKM Partners assumed coverage on Ciena in a research note on Thursday, August 4th. They set a "buy" rating and a $62.00 price objective on the stock. Barclays reduced their price objective on Ciena from $70.00 to $55.00 in a research note on Friday, September 2nd. Argus reduced their price objective on Ciena from $82.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, June 3rd. Rosenblatt Securities reduced their price objective on Ciena from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Friday, September 2nd. Finally, Raymond James dropped their target price on Ciena from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, September 2nd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.32.

About Ciena

(Get Rating)

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.

See Also

• Get a free copy of the StockNews.com research report on Ciena (CIEN)
• The Institutions Hold On To Darden Restaurants International
• What Steelcase's Earnings Say About the Return to the Office?
• Is The Golden Age Of Homebuilding Already Over?
• These 3 Big Dividend Payers Also Boast Strong Price Growth
• Natural Gas Prices Continue To Rally, These Stocks Should Benefit

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.