Opinion

Ciena Corporation (NYSE:CIEN) Analyst Estimates

Ciena Corporation (NYSE:CIEN) stock is presently standing at about $23.27 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 20 analysts covering the company is $29.00, which suggests the stock could still rise over 20 percent. The highest analyst price target is $35.00, which implies a rally of 50 percent. And a quick view of analyst notes show that 13 are rating the stock a buy while 6 rate CIEN a strong buy. There are 4 equity research firms advocating a Hold and 0 consider it Sell.

BofA/Merrill analysts provided their view on Ciena Corporation (NYSE:CIEN) recently. The rating firm issued a Neutral rating to this company in a research note released on Mar 03, 2017. UBS analysts disclosed their opinion on Ciena Corporation (NYSE:CIEN) recently. The rating firm gave a Buy rating to this stock in a research note published on Jan 13, 2017. According to a research note disclosed on Nov 14, 2016, analysts at Deutsche Bank have upped their rating on these shares from Hold to Buy.

Ciena Corporation (NYSE:CIEN) Transactions Roundup

Several insiders were part of recent insider activity for the stock. Its SVP Finance, CFO MOYLAN JAMES E JR sold 2,000 company shares for 48100, in a transaction on 2017-03-09. Following the transaction, the SVP Finance, CFO is left with a stake of 415,281 shares, currently valued at $9663589. Meanwhile, PRESIDENT, CEO SMITH GARY B sold 8,000 shares worth $205360, through a transaction dated 2017-02-23. Following the completion of the transaction, the insider is left with a stake of 753,579 shares, amounting $17535783.33. CIEN SVP Finance, CFO MOYLAN JAMES E JR also sold 2,000 shares, at a stock price of $25.85. This transaction occurred on 2017-02-23 totals $51700. After this transaction, the insider’s stake stands at 417,281 shares, with a market value of $9710129.

Executives hold 3.92 percent of the stock. Gary B. Smith is one of the biggest insider owners in Ciena Corporation (NYSE:CIEN), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 761,579 shares which have current market value of around $17721943.33.Steve W. Chaddick is another major inside shareholder in the company. The insider owns 584,875 shares as of 0.41%, currently worth $13610041.25. Jim Hjartarson is ranked as third insider holder of the stock. This insider holds 571,880 shares with a market value around $13307647.6 as of recent close.

Ciena Corporation (NYSE:CIEN) Earnings Outlook

In Ciena Corporation (NYSE:CIEN)’s latest quarter, EPS moved to $0.26 from $0.44 in preceding quarter and revenues reached at $621.50M compared to $716.19M. Analysts had expected Ciena Corporation (NYSE:CIEN) to post net income of about $0.29 per share on $632.29M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.25 to $0.34. That is compared with the $0.34 in EPS it reported during the same period a year ago.

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