Ciena Co. (NYSE:CIEN – Get Rating) VP Andrew C. Petrik sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $49.82, for a total value of $49,820.00. Following the completion of the sale, the vice president now directly owns 30,558 shares of the company’s stock, valued at $1,522,399.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Ciena Price Performance
Ciena stock traded down $1.44 during mid-day trading on Friday, hitting $49.44. 2,127,182 shares of the company were exchanged, compared to its average volume of 1,654,311. The company has a quick ratio of 2.54, a current ratio of 3.70 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $49.84 and a 200 day moving average of $46.66. Ciena Co. has a 1-year low of $38.33 and a 1-year high of $61.97. The company has a market capitalization of $7.37 billion, a PE ratio of 40.52, a price-to-earnings-growth ratio of 1.69 and a beta of 0.97.
Ciena (NYSE:CIEN – Get Rating) last released its quarterly earnings data on Monday, March 6th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.28. Ciena had a return on equity of 8.22% and a net margin of 4.77%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $959.04 million. During the same period in the prior year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, sell-side analysts expect that Ciena Co. will post 2 earnings per share for the current year.
Institutional Trading of Ciena
Analyst Upgrades and Downgrades
CIEN has been the subject of several research reports. Raymond James increased their price objective on Ciena from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, March 7th. Cowen increased their price objective on Ciena from $71.00 to $76.00 in a research report on Friday, December 9th. Loop Capital raised their target price on Ciena from $68.00 to $69.00 in a research report on Friday, December 9th. StockNews.com began coverage on Ciena in a research report on Thursday. They issued a “hold” rating for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $65.00 target price on shares of Ciena in a research report on Tuesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.00.
Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.
- Get a free copy of the StockNews.com research report on Ciena (CIEN)
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