A Legacy Optical Fiber Play Is Rising Like the Phoenix, Ciena Stock Corporation is a publicly traded company. Ciena (NYSE: CIEN) – Investment analysts working for Jefferies Financial Group lowered their forecasts for Ciena’s profit for the fiscal year 2022 in a study distributed to clients and investors on Monday, August 29. The research study was given out to investors and clients. According to projections by G. Notter of Jefferies Financial Group, the communications equipment manufacturer would bring in $1.45 per share in revenue in 2018, a decline from the $1.65 per share it brought in the previous year. It is generally believed that Ciena’s profits for the entire year should amount to $1.53 per share, which is supported by the majority of opinions. In addition, CIEN has been extensively addressed in a wide range of other academic literature. In a research report published on Friday, August 12, Morgan Stanley raised their price target on Ciena from $56.00 to $65.00 in a research report. In addition, they upgraded the company from an “equal weight” rating to an “overweight” rating in the report. In a report released on Monday, June 6, Cowen lowered their “outperform” rating on Ciena and reduced their price objective from $96.00 to $82.00 in a report released on Tuesday, June 7.
On Monday, June 6, Cowen indicated that they would be lowering their target price for Ciena from $96.00 to $82.00. The announcement was made in a research report that was published that day. Argus had previously held the “buy” rating for Ciena, which was removed from a research report published on June 3 by Argus. They went from having an $82 price goal for the stock to having a $68 price objective, so there was another drop. In a research note published on Monday, June 6, Loop Capital lowered its price target on Ciena from $92.00 to $84.00 and downgraded the stock from a “buy” rating to a “hold” rating in a research note. Twenty financial analysts have suggested “hold” the stock, while sixteen others have recommended “buy” the stock. According to the data provided by Bloomberg, the business is currently regarded as having an average recommendation of “Moderate Buy,” and it has an average price target of $72.28. When trading started on Tuesday, the price of a share of CIEN was $51.66 per share. The company has a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.34, and a beta value of 0.92.
These ratios measure how much a company’s current price corresponds to its future earnings. The total value of the corporation, as represented by its market capitalization, is $7.73 billion. Over the past year, Ciena’s share price dropped to an all-time low of $41.63 and a high of $78.28. The stock price has reached $49.96 on its moving average over the past 50 days, while it has reached $54.21 on its moving average over the past 200 days. A debt-to-equity ratio comes in at 0.38, a quick ratio that comes in at 3.10, a current ratio that comes in at 3.72, and a quick ratio that comes in at 3.10. On June 2, the most recent quarterly financial report published for Ciena (NYSE: CIEN) was made available to the public. The retailer of communications equipment reported earnings per share of $0.36 for the quarter, which was $0.06 less than the consensus estimate of $0.42 from market experts, who had anticipated earnings of $0.42. Ciena had a return on equity of 12.18%, and its net margin was 11.15%. The company’s overall profitability was 11.15%. The company announced revenue for the period of $949.20 million, which was lower than the average forecast for that measure, which was $950.86 million.
The company reported a profit of $0.52 per share for the quarter, compared to the results it achieved during the same period the year before. When compared to the same quarter that took place the prior year, Ciena’s revenue saw an increase of 13.8% during the current quarter. In the most recent few months, numerous institutional investors, such as hedge funds, have either boosted or lowered the number of company shares they are now holding in their portfolios. First Horizon Advisors Inc. boosted the amount of Ciena stock owned by 32.9% during the fourth quarter. First Horizon Advisors Inc. now has 744 shares of the communications equipment provider’s stock after purchasing 184 shares during the most recent quarter. Each share of this stock has an estimated market value of $57,000, and First Horizon Advisors Inc. has a total of 744 shares. Synovus Financial Corporation increased its stake in Ciena by 2.5 percent in the fourth quarter of 2016. Synovus Financial Corp now holds 7,960 shares of the company’s stock after purchasing an additional 195 shares during the most recent quarter. This results in a market capitalization of $613,000 for the firm. CIBC Asset Management Inc. increased the number of Ciena shares held by 3.3% during the final three months of 2018. After purchasing an additional 202 shares during the most recent quarter, CIBC Asset Management Inc. now has 6,248 shares in the communications equipment firm, valued at $481,000.
This brings the total number of shares the company owns to 6,248. During the first three months of the year, Lindenwold Advisors increased the percentage of Ciena stock it held in its portfolio by 6.3%. Lindenwold Advisors now owns 3,650 shares of the communications equipment provider’s stock, which has a value of $221,000 after the company acquired an additional 216 shares during the most recent trading period. In order not to be outdone, Harbour Capital Advisors LLC increased the percentage of Ciena stock owned by 0.5 percent during the first three months of this year. Since the beginning of the most recent quarter, Harbour Capital Advisors LLC has purchased an additional 220 shares, bringing the total number of shares it owns in the communications equipment company to 45,417. These shares currently have a value on the market of $2,754,000. The majority of the stock in the firm is owned by institutional investors and hedge funds, which account for 90.64 percent of the total. On Friday, July 15, Ciena’s Vice President, Andrew C. Petrik, successfully sold 1,000 of the company’s shares of stock. This information comes as part of other Ciena-related news. The total revenue obtained from the sale of the shares was $47,170.00, equivalent to $47.17 for each share.
As a result of the transaction, the company’s vice president now owns 31,190 shares of the company. The total value of these shares is $1,471,232.30. Following the link provided in the previous line, you will be able to examine the filing made with the Securities and Exchange Commission that made the transaction public knowledge. Additionally, it is important to note that on June 7, the Chief Executive Officer of the company, Gary B. Smith, sold 3,542 shares of company stock. This is an important piece of information to take notice of. The stock sale generated a total of $172,424.56 in revenue, with each share commanding a price of $48.68 in the market. Because of the transaction, the firm’s CEO now owns 440,382 shares, estimated at $21,437,795.76. The Securities and Exchange Commission (SEC) kept a legal file accessible online and contained information relevant to the transaction. This information can be viewed by anybody interested. On top of that, Vice President Andrew C. Petrik sold 1,000 shares of the company’s stock on Friday, July 15. The total revenue obtained from the sale of the shares was $47,170.00, equivalent to $47.17 for each share.
Because of the transaction, the company’s vice president now owns 31,190 company shares, and the total value of those shares at the moment is approximately $1,471,232.30. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company sold 33,852 shares at a total price of $1,638,258 during the most recent ninety days. The equivalent of 0.94% of the total number of shares in the company is held by company insiders. Ciena Corporation is in the business of developing network hardware, software, and services that make it possible to transport, route, switch, aggregate, and manage data and voice traffic across worldwide communications networks. These capabilities have been made available because the organization can provide these capabilities to customers through service. Networking Platforms is a division of the company that specializes in the sale of various networking hardware solutions as well as the provision of related services. Coherent optical transport, optical transport network switching, and packet switching are the applications designed to take advantage of these products and services.