Wall Street brokerages forecast that Ciena Co. (NYSE:CIEN) will post $859.94 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Ciena’s earnings, with estimates ranging from $848.75 million to $871.30 million. Ciena posted sales of $744.45 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.5%. The company is scheduled to announce its next earnings report on Thursday, December 6th.

On average, analysts expect that Ciena will report full-year sales of $3.06 billion for the current financial year, with estimates ranging from $3.04 billion to $3.07 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.25 billion, with estimates ranging from $3.17 billion to $3.36 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ciena.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $818.82 million during the quarter, compared to the consensus estimate of $792.28 million. During the same period in the previous year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year.

Several research analysts have weighed in on CIEN shares. Nomura set a $35.00 price target on Ciena and gave the company a “buy” rating in a report on Friday, August 31st. ValuEngine upgraded Ciena from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Goldman Sachs Group started coverage on Ciena in a report on Thursday, June 21st. They issued a “buy” rating for the company. Raymond James boosted their price target on Ciena from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, August 31st. Finally, BMO Capital Markets boosted their price target on Ciena from $28.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, August 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $32.41.

In other news, CEO Gary B. Smith sold 9,600 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $27.17, for a total transaction of $260,832.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Phipps sold 1,581 shares of the company’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $30.98, for a total value of $48,979.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,312 shares of company stock valued at $2,155,310. Insiders own 1.38% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of Ciena by 36,042.9% during the 2nd quarter. Parallel Advisors LLC now owns 5,060 shares of the communications equipment provider’s stock worth $134,000 after buying an additional 5,046 shares during the last quarter. Bristol John W & Co. Inc. NY purchased a new stake in Ciena during the 1st quarter worth $137,000. Signaturefd LLC boosted its position in Ciena by 484.4% during the 2nd 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 during the period. Moneta Group Investment Advisors LLC boosted its position in Ciena by 102.0% during the 2nd 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 during the period. Finally, Exane Derivatives purchased a new stake in Ciena during the 2nd quarter worth $190,000.

Shares of Ciena stock opened at $31.32 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.76. Ciena has a 1 year low of $19.40 and a 1 year high of $32.33. The company has a market cap of $4.43 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.83 and a beta of 1.35.

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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