Equities analysts expect that Ciena Corporation (NYSE:CIEN) will announce earnings per share (EPS) of $0.50 for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Ciena Corporation’s earnings, with estimates ranging from $0.44 to $0.55. Ciena Corporation posted earnings of $0.44 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.6%. The firm is expected to report its next earnings report before the market opens on Thursday, December 7th.

According to Zacks, analysts expect that Ciena Corporation will report full year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.81. For the next year, analysts anticipate that the firm will post earnings of $1.98 per share, with EPS estimates ranging from $1.75 to $2.20. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Ciena Corporation.

Ciena Corporation (NYSE:CIEN) last released its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $726.81 million. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year.

CIEN has been the subject of a number of research analyst reports. UBS AG set a $31.00 price target on Ciena Corporation and gave the company a “buy” rating in a research note on Wednesday, August 30th. Citigroup Inc. upgraded Ciena Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $23.87 to $29.00 in a research note on Wednesday, August 30th. B. Riley restated a “buy” rating and issued a $34.25 price objective on shares of Ciena Corporation in a research note on Tuesday, August 29th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective on shares of Ciena Corporation in a research note on Friday, September 1st. Finally, MKM Partners restated a “buy” rating on shares of Ciena Corporation in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ciena Corporation currently has an average rating of “Buy” and an average target price of $29.53.

WARNING: “Zacks: Analysts Anticipate Ciena Corporation (CIEN) to Announce $0.50 Earnings Per Share” was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://www.watchlistnews.com/zacks-analysts-anticipate-ciena-corporation-cien-to-announce-0-50-earnings-per-share/1720461.html.

Ciena Corporation (CIEN) traded up $0.32 during trading on Friday, reaching $20.84. The company’s stock had a trading volume of 1,602,284 shares, compared to its average volume of 3,087,241. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.92. Ciena Corporation has a 52 week low of $19.40 and a 52 week high of $27.98. The stock has a market capitalization of $2,923.68, a PE ratio of 14.85, a PEG ratio of 0.80 and a beta of 1.64.

In other Ciena Corporation news, VP David M. Rothenstein sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $19.50, for a total value of $39,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Andrew C. Petrik sold 1,251 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $21.60, for a total value of $27,021.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,052 shares of company stock worth $1,899,418. 1.45% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Ciena Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock valued at $518,000 after acquiring an additional 58 shares in the last quarter. Capstone Asset Management Co. lifted its position in shares of Ciena Corporation by 1.3% in the second quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock valued at $262,000 after acquiring an additional 130 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Ciena Corporation by 1.9% in the second quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock valued at $269,000 after acquiring an additional 200 shares in the last quarter. World Asset Management Inc lifted its position in shares of Ciena Corporation by 2.8% in the second quarter. World Asset Management Inc now owns 8,935 shares of the communications equipment provider’s stock valued at $224,000 after acquiring an additional 243 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Ciena Corporation by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 11,289 shares of the communications equipment provider’s stock valued at $282,000 after acquiring an additional 300 shares in 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.

Get a free copy of the Zacks research report on Ciena Corporation (CIEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ciena Corporation (NYSE:CIEN)

Receive News & Ratings for Ciena Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.