Research Snappy
  • Market Research Forum
  • Investment Research
  • Consumer Research
  • More
    • Advertising Research
    • Healthcare Research
    • Data Analysis
    • Top Companies
    • Latest News
No Result
View All Result
Research Snappy
No Result
View All Result

Ciena Co. Expected to Post Q4 2020 Earnings of $0.76 Per Share (NYSE:CIEN)

researchsnappy by researchsnappy
December 19, 2019
in Investment Research
0
Ciena Co. Expected to Post Q4 2020 Earnings of $0.76 Per Share (NYSE:CIEN)
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter

Ciena logo

Ciena Co. (NYSE:CIEN) – Investment analysts at Piper Jaffray Companies lowered their Q4 2020 earnings per share estimates for shares of Ciena in a research report issued on Monday, December 9th, Zacks Investment Research reports. Piper Jaffray Companies analyst T. Jensen now expects that the communications equipment provider will post earnings per share of $0.76 for the quarter, down from their previous estimate of $0.82. Piper Jaffray Companies currently has a “Overweight” rating and a $50.00 price target on the stock.

CIEN has been the topic of several other research reports. Needham & Company LLC restated a “hold” rating on shares of Ciena in a research note on Monday, December 9th. ValuEngine raised shares of Ciena from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI reissued a “buy” rating and issued a $48.00 price objective on shares of Ciena in a report on Thursday, December 12th. Zacks Investment Research lowered shares of Ciena from a “hold” rating to a “sell” rating and set a $45.00 target price for the company. in a research report on Friday, December 13th. Finally, Rosenblatt Securities raised Ciena from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $47.00 in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $48.65.

CIEN stock opened at $40.92 on Wednesday. Ciena has a 1-year low of $30.77 and a 1-year high of $46.78. The business has a fifty day moving average price of $37.53 and a 200-day moving average price of $40.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.82 and a quick ratio of 2.41. The stock has a market capitalization of $6.31 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.06 and a beta of 1.06.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, December 12th. The communications equipment provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.05). Ciena had a net margin of 7.09% and a return on equity of 13.67%. The firm had revenue of $968.00 million for the quarter, compared to analysts’ expectations of $966.28 million. During the same quarter in the previous year, the company earned $0.53 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year.

In other news, VP Andrew C. Petrik sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $41.72, for a total value of $83,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary B. Smith sold 1,750 shares of Ciena stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $37.12, for a total transaction of $64,960.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,504 shares of company stock valued at $5,334,344. 1.20% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of CIEN. FMR LLC grew its holdings in shares of Ciena by 605.3% in the first quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock worth $46,669,000 after purchasing an additional 1,072,632 shares during the last quarter. Creative Planning boosted its holdings in shares of Ciena by 3.8% in the second quarter. Creative Planning now owns 8,152 shares of the communications equipment provider’s stock valued at $335,000 after purchasing an additional 302 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Ciena in the second quarter valued at approximately $509,000. SG Americas Securities LLC grew its stake in Ciena by 29.2% in the second quarter. SG Americas Securities LLC now owns 15,554 shares of the communications equipment provider’s stock worth $640,000 after purchasing an additional 3,519 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Ciena by 332.1% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 105,312 shares of the communications equipment provider’s stock worth $4,331,000 after purchasing an additional 80,940 shares in the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, 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 solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

See Also: What causes a stock to be most active?

Get a free copy of the Zacks research report on Ciena (CIEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ciena (NYSE:CIEN)



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.

Previous Post

Conscious, ethical and cruelty-free: a guide to the language of sustainable fashion | Fashion

Next Post

Bitcoin's price will top $100,000 in 2021; will not dip below $100,000 after 2028, claims research

Next Post
Bitcoin’s price will top $100,000 in 2021; will not dip below $100,000 after 2028, claims research

Bitcoin's price will top $100,000 in 2021; will not dip below $100,000 after 2028, claims research

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Research Snappy

Category

  • Advertising Research
  • Consumer Research
  • Healthcare Research
  • Investment Research

Target Accuracy Versus Support And Resistance Stops

PayPal, Exxon Mobil, Goldman Sachs, Charter Communications and Biogen

Global Digital-led Consumer Banking Market Qualitative Report Focusing on Leading Players Forecast 2020-2026 – The Courier

  • Privacy Policy
  • Terms of Use
  • Antispam
  • DMCA
  • Contact Us

© 2020 researchsnappy.com

No Result
View All Result
  • Market Research Forum
  • Investment Research
  • Consumer Research
  • More
    • Advertising Research
    • Healthcare Research
    • Data Analysis
    • Top Companies
    • Latest News

© 2020 researchsnappy.com