Wall Street brokerages forecast that Ciena Co. (NYSE:CIEN) will report $859.95 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Ciena’s earnings. The highest sales estimate is $871.30 million and the lowest is $848.75 million. Ciena reported sales of $744.45 million in the same quarter last year, which indicates a positive year over year growth rate of 15.5%. The business is scheduled to report its next quarterly earnings report on Thursday, December 6th.

On average, analysts expect that Ciena will report full-year sales of $3.06 billion for the current year, with estimates ranging from $3.04 billion to $3.07 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.25 billion per share, with estimates ranging from $3.17 billion to $3.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Ciena.

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 the consensus estimate of $0.36 by $0.12. Ciena had a return on equity of 8.56% and a net margin of 25.56%. The business had revenue of $818.82 million for the quarter, compared to analysts’ expectations of $792.28 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis.

Several research firms have recently issued reports on CIEN. BMO Capital Markets restated a “buy” rating and set a $28.00 price objective on shares of Ciena in a report on Wednesday, August 29th. MKM Partners increased their target price on Ciena to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. ValuEngine lowered Ciena from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Nomura reaffirmed a “buy” rating and issued a $30.00 target price on shares of Ciena in a research report on Friday, June 1st. Finally, Zacks Investment Research lowered Ciena from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $32.28.

CIEN stock opened at $30.90 on Friday. Ciena has a 52-week low of $19.40 and a 52-week high of $32.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.77 and a current ratio of 1.97. The firm has a market cap of $4.41 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.36.

In other news, CEO Gary B. Smith sold 8,000 shares of Ciena stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $24.59, for a total transaction of $196,720.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Stephen B. Alexander sold 2,500 shares of Ciena stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $24.80, for a total value of $62,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,262 shares of company stock worth $2,020,776. Corporate insiders own 1.38% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CIEN. Parallel Advisors LLC increased its position in shares of Ciena by 36,042.9% during the second quarter. Parallel Advisors LLC now owns 5,060 shares of the communications equipment provider’s stock worth $134,000 after acquiring an additional 5,046 shares during the last quarter. Bristol John W & Co. Inc. NY purchased a new stake in shares of Ciena during the first quarter worth about $137,000. Signaturefd LLC grew its stake in Ciena by 484.4% in the second quarter. Signaturefd LLC now owns 5,534 shares of the communications equipment provider’s stock worth $147,000 after purchasing an additional 4,587 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in Ciena by 102.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 6,140 shares of the communications equipment provider’s stock worth $163,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Exane Derivatives acquired a new position in Ciena in the second quarter worth about $190,000.

About Ciena

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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Earnings History and Estimates for Ciena (NYSE:CIEN)

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