Favorable Media Coverage Likely to Impact Ciena (CIEN) Share Price
News headlines about Ciena (NYSE:CIEN) have trended positive recently, AlphaOne Sentiment Analysis reports. The research firm, a subsidiary of Accern, identifies negative and positive media coverage by reviewing more than twenty million blog and news sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Ciena earned a media sentiment score of 0.26 on AlphaOne’s scale. AlphaOne also assigned news coverage about the communications equipment provider an impact score of 76 out of 100, indicating that recent media coverage is likely to have an effect on the stock’s share price in the near future.
These are some of the media stories that may have impacted AlphaOne’s scoring:
- Globecomm, Ciena provide mission-critical services for media, content providers (financial-news.co.uk)
- Insider Selling: Ciena Co. (CIEN) VP Sells 1,852 Shares of Stock (americanbankingnews.com)
- Stephen B. Alexander Sells 2,500 Shares of Ciena Co. (CIEN) Stock (americanbankingnews.com)
- James Frodsham Sells 2,000 Shares of Ciena Co. (CIEN) Stock (americanbankingnews.com)
- Quicken, automakers poured cash into Trump inauguration fund (freep.com)
Ciena (NYSE:CIEN) traded up 0.78% during trading on Thursday, hitting $21.88. The stock had a trading volume of 2,330,719 shares. The company has a market cap of $3.09 billion, a PE ratio of 35.93 and a beta of 1.66. Ciena has a 52 week low of $15.61 and a 52 week high of $26.84. The stock has a 50-day moving average price of $23.43 and a 200-day moving average price of $23.08.
Ciena (NYSE:CIEN) last posted its earnings results on Wednesday, March 8th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.03. Ciena had a net margin of 2.79% and a return on equity of 23.37%. The firm earned $621.50 million during the quarter, compared to the consensus estimate of $632.29 million. During the same quarter last year, the firm posted $0.18 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Equities analysts predict that Ciena will post $1.69 EPS for the current year.
Several research firms recently commented on CIEN. B. Riley reiterated a “buy” rating and issued a $33.75 price target on shares of Ciena in a research note on Monday, March 6th. Wells Fargo & Co reiterated an “outperform” rating and issued a $31.00 price target on shares of Ciena in a research note on Saturday, March 11th. MKM Partners reiterated a “buy” rating and issued a $30.00 price target on shares of Ciena in a research note on Monday, March 13th. Bank of America Corp cut Ciena from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $26.39 to $28.00 in a research note on Friday, March 3rd. They noted that the move was a valuation call. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $30.00 price target on shares of Ciena in a research note on Saturday, March 11th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $28.13.
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In related news, SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $25.85, for a total value of $51,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stephen B. Alexander sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $25.48, for a total transaction of $63,700.00. The disclosure for this sale can be found here. Insiders sold 72,410 shares of company stock valued at $1,736,862 in the last quarter. 1.45% of the stock is currently owned by corporate insiders.
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.
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