Nomura restated their buy rating on shares of Ciena Corporation (NYSE:CIEN) in a research report sent to investors on Wednesday. Nomura currently has a $28.00 target price on the communications equipment provider’s stock.

A number of other analysts have also recently weighed in on the stock. MKM Partners reiterated a buy rating on shares of Ciena Corporation in a research note on Thursday, August 31st. William Blair reiterated an outperform rating on shares of Ciena Corporation in a research note on Thursday, August 31st. Dougherty & Co increased their price target on shares of Ciena Corporation from $26.00 to $32.00 and gave the stock a buy rating in a research note on Friday, June 2nd. ValuEngine upgraded shares of Ciena Corporation from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, TheStreet upgraded shares of Ciena Corporation from a c+ rating to a b rating in a research note on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $29.79.

Shares of Ciena Corporation (NYSE CIEN) traded up 0.09% on Wednesday, hitting $21.52. 2,396,883 shares of the company traded hands. The company has a market capitalization of $3.07 billion, a PE ratio of 23.54 and a beta of 1.68. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The stock’s 50-day moving average price is $23.44 and its 200-day moving average price is $24.06.

Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $728.70 million during the quarter, compared to analysts’ expectations of $726.81 million. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. Ciena Corporation’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. On average, equities analysts predict that Ciena Corporation will post $1.74 earnings per share for the current year.

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In other Ciena Corporation news, CEO Gary B. Smith sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $26.25, for a total transaction of $105,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $26.20, for a total transaction of $52,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,509 shares of company stock valued at $1,701,747 over the last 90 days. 1.45% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Ciena Corporation by 11,733.7% during the 1st quarter. BlackRock Inc. now owns 15,755,200 shares of the communications equipment provider’s stock worth $371,979,000 after purchasing an additional 15,622,062 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ciena Corporation by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,466,282 shares of the communications equipment provider’s stock worth $311,906,000 after purchasing an additional 203,112 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Ciena Corporation by 36.4% during the 1st quarter. TIAA CREF Investment Management LLC now owns 8,553,894 shares of the communications equipment provider’s stock worth $201,957,000 after purchasing an additional 2,283,352 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Ciena Corporation by 21.1% during the 1st quarter. Teachers Advisors LLC now owns 4,900,040 shares of the communications equipment provider’s stock worth $115,690,000 after purchasing an additional 853,793 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Ciena Corporation by 3.9% during the 2nd quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock worth $116,319,000 after purchasing an additional 172,876 shares during the last quarter.

About Ciena Corporation

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.

Analyst Recommendations for Ciena Corporation (NYSE:CIEN)

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