Somewhat Negative News Coverage Somewhat Unlikely to Affect Ciena (CIEN) Share Price
News headlines about Ciena (NYSE:CIEN) have trended somewhat negative this week, according to Accern. The research group identifies positive and negative press coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ciena earned a news sentiment score of 0.00 on Accern’s scale. Accern also assigned news headlines about the communications equipment provider an impact score of 46.937104536236 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news headlines that may have effected Accern’s scoring:
- Ciena Corporation (CIEN) Receives Consensus Rating of “Buy” from Brokerages (americanbankingnews.com)
- Ciena Corp (NYSE:CIEN) Tanks After Earnings, Watch This Level (inthemoneystocks.com)
- Piper Jaffray Companies Lowers Ciena (CIEN) to Neutral (americanbankingnews.com)
- Raymond James Financial Analysts Give Ciena (CIEN) a $33.00 Price Target (americanbankingnews.com)
- Ciena’s (CIEN) Q4 Earnings Miss Estimates, Revenues Beat (finance.yahoo.com)
A number of research analysts have recently issued reports on CIEN shares. Zacks Investment Research cut shares of Ciena from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. B. Riley cut their target price on shares of Ciena from $30.50 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, December 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 target price on shares of Ciena in a research note on Friday, September 1st. BidaskClub cut shares of Ciena from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Finally, William Blair reiterated a “buy” rating on shares of Ciena in a research note on Monday, November 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $28.48.
Ciena (NYSE:CIEN) traded down $0.19 during mid-day trading on Tuesday, reaching $21.58. 5,586,636 shares of the company traded hands, compared to its average volume of 3,161,896. The company has a quick ratio of 1.68, a current ratio of 1.93 and a debt-to-equity ratio of 0.27. Ciena has a 1 year low of $19.40 and a 1 year high of $27.98. The company has a market cap of $2,993.89, a PE ratio of 14.95, a PEG ratio of 0.86 and a beta of 1.67.
Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $744.40 million during the quarter, compared to the consensus estimate of $736.91 million. Ciena had a return on equity of 18.32% and a net margin of 45.04%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. equities research analysts anticipate that Ciena will post 1.65 earnings per share for the current year.
Ciena announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 7th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In other Ciena news, VP James Frodsham sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $22.00, for a total transaction of $44,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary B. Smith sold 8,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $21.50, for a total transaction of $172,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 89,052 shares of company stock valued at $1,898,778 in the last quarter. Corporate insiders own 1.45% of the company’s stock.
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Ciena 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.
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