Stifel Nicolaus reissued their buy rating on shares of Ciena Corporation (NYSE:CIEN) in a report released on Friday.

Several other research analysts have also recently issued reports on the company. B. Riley reissued a buy rating and issued a $30.50 target price on shares of Ciena Corporation in a research report on Sunday, September 3rd. MKM Partners reissued a buy rating and issued a $30.00 target price on shares of Ciena Corporation in a research report on Tuesday, September 26th. ValuEngine cut Ciena Corporation from a buy rating to a hold rating in a research report on Monday, August 14th. BMO Capital Markets reissued a buy rating on shares of Ciena Corporation in a research report on Friday, October 27th. Finally, Zacks Investment Research cut Ciena Corporation from a hold rating to a sell rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $29.53.

Shares of Ciena Corporation (NYSE CIEN) opened at $20.40 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. Ciena Corporation has a 12-month low of $19.04 and a 12-month high of $27.98. The company has a market capitalization of $2,873.74, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.75 and a beta of 1.64.

Ciena Corporation (NYSE:CIEN) last released its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The company had revenue of $728.70 million for the quarter, compared to analysts’ expectations of $726.81 million. During the same period last year, the firm posted $0.42 earnings per share. Ciena Corporation’s revenue was up 8.7% compared to the same quarter last year. research analysts predict that Ciena Corporation will post 1.51 EPS for the current fiscal year.

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In other Ciena Corporation news, SVP James E. Moylan, Jr. sold 2,000 shares of Ciena Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $24.65, for a total value of $49,300.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gary B. Smith sold 8,000 shares of Ciena Corporation stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $24.20, for a total value of $193,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 90,310 shares of company stock worth $1,999,124 in the last three months. 1.45% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Ciena Corporation by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock worth $518,000 after acquiring an additional 58 shares during the last quarter. Capstone Asset Management Co. increased its stake in Ciena Corporation by 1.3% in the 2nd quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock worth $262,000 after acquiring an additional 130 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Ciena Corporation by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock worth $269,000 after acquiring an additional 200 shares during the last quarter. World Asset Management Inc increased its stake in Ciena Corporation by 2.8% in the 2nd quarter. World Asset Management Inc now owns 8,935 shares of the communications equipment provider’s stock worth $224,000 after acquiring an additional 243 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Ciena Corporation by 2.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,289 shares of the communications equipment provider’s stock worth $282,000 after acquiring an additional 300 shares during the last quarter.

Ciena Corporation Company Profile

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.

Analyst Recommendations for Ciena Corporation (NYSE:CIEN)

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