Ciena Corporation (NYSE:CIEN) Getting Somewhat Favorable Press Coverage, Report Shows
Media stories about Ciena Corporation (NYSE:CIEN) have trended somewhat positive recently, according to Accern Sentiment. Accern identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ciena Corporation earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave headlines about the communications equipment provider an impact score of 45.882655792095 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Recent research: Software defined networking (SDN) market trends to 2022 (whatech.com)
- Ciena Corporation (CIEN) Attaining Market Attention on Technical Facts- Jabil Inc. (JBL) – Investing News Update (investingbizz.com)
- Westfield Capital Management Co Lp Sold A Lot More Ciena Corporation (CIEN) Stock Last Quarter – Modern Readers (modernreaders.com)
- IHS Markit Score downgrades Ciena Corp to 10 out of 100, ranking negatively in two out of three available IHS Markit categories. (finance.yahoo.com)
- Analysts Suggest to Buy Technology Stock: Ciena Corporation (CIEN) – Street Observer (press release) (streetobserver.com)
CIEN has been the subject of several research reports. BMO Capital Markets reiterated a “buy” rating and set a $30.00 price objective on shares of Ciena Corporation in a research note on Thursday, April 27th. Stifel Nicolaus upgraded Ciena Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $28.00 in a research note on Monday, May 22nd. Deutsche Bank AG lowered Ciena Corporation from a “buy” rating to a “hold” rating and cut their price objective for the stock from $24.35 to $23.00 in a research note on Wednesday, May 24th. B. Riley reiterated a “buy” rating and set a $34.25 price objective on shares of Ciena Corporation in a research note on Tuesday, May 30th. Finally, Cowen and Company reiterated an “outperform” rating and set a $35.00 price objective on shares of Ciena Corporation in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.19.
Shares of Ciena Corporation (NYSE:CIEN) opened at 24.17 on Friday. The stock’s 50 day moving average price is $25.58 and its 200-day moving average price is $24.51. Ciena Corporation has a 52-week low of $18.94 and a 52-week high of $27.98. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 31.93 and a beta of 1.61.
Ciena Corporation (NYSE:CIEN) last released its earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The company had revenue of $707.02 million during the quarter, compared to the consensus estimate of $694.84 million. Ciena Corporation had a net margin of 4.13% and a return on equity of 25.56%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, analysts predict that Ciena Corporation will post $1.77 earnings per share for the current fiscal year.
In related news, CEO Gary B. Smith sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $26.25, for a total transaction of $105,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott Mcfeely sold 1,000 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $25.70, for a total transaction of $25,700.00. The disclosure for this sale can be found here. Insiders sold a total of 68,689 shares of company stock valued at $1,753,805 in the last three months. Insiders own 1.45% of the company’s stock.
About Ciena Corporation
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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