Equities research analysts expect Ciena Co. (NYSE:CIEN) to report $860.31 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Ciena’s earnings, with the lowest sales estimate coming in at $848.75 million and the highest estimate coming in at $871.30 million. Ciena posted sales of $744.45 million during the same quarter last year, which suggests a positive year over year growth rate of 15.6%. The business is expected to report its next earnings report before the market opens on Thursday, December 13th.

On average, analysts expect that Ciena will report full-year sales of $3.06 billion for the current fiscal year, with estimates ranging from $3.04 billion to $3.07 billion. For the next year, analysts forecast that the firm will report sales of $3.26 billion, with estimates ranging from $3.17 billion to $3.36 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Ciena.

Several research analysts have recently issued reports on CIEN shares. Argus upped their price objective on Ciena to $38.00 and gave the company an “average” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. ValuEngine raised Ciena from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. MKM Partners upped their target price on Ciena to $36.00 and gave the company a “buy” rating in a report on Friday, August 31st. William Blair reiterated a “buy” rating on shares of Ciena in a report on Friday, August 31st. Finally, B. Riley upped their target price on Ciena from $31.50 to $36.00 and gave the company a “buy” rating in a report on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $33.05.

Shares of Ciena stock traded down $1.69 on Friday, hitting $31.45. The stock had a trading volume of 2,776,793 shares, compared to its average volume of 3,232,722. Ciena has a twelve month low of $19.99 and a twelve month high of $35.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.76. The company has a market capitalization of $4.65 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.45 and a beta of 1.24.

In other Ciena news, CEO Gary B. Smith sold 9,600 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $31.14, for a total transaction of $298,944.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David M. Rothenstein sold 2,000 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $29.15, for a total value of $58,300.00. The disclosure for this sale can be found here. Insiders sold 89,875 shares of company stock worth $2,811,012 over the last quarter. 1.38% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of CIEN. Principal Financial Group Inc. boosted its holdings in shares of Ciena by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 633,121 shares of the communications equipment provider’s stock worth $16,398,000 after buying an additional 21,023 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Ciena by 127.0% during the 2nd quarter. Bank of Montreal Can now owns 215,384 shares of the communications equipment provider’s stock worth $5,711,000 after buying an additional 120,519 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Ciena by 12.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 27,541 shares of the communications equipment provider’s stock worth $730,000 after buying an additional 3,065 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Ciena by 22.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 51,091 shares of the communications equipment provider’s stock worth $1,354,000 after buying an additional 9,472 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Ciena during the 2nd quarter worth approximately $223,000.

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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