Ciena (NYSE:CIEN) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Ciena (NYSE:CIEN - Get Free Report) announced its quarterly earnings data on Tuesday. The communications equipment provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.03), Zacks reports. Ciena had a net margin of 2.09% and a return on equity of 4.72%.

Ciena Trading Down 5.3 %

CIEN opened at $65.24 on Tuesday. The stock has a market cap of $9.30 billion, a PE ratio of 114.47, a PEG ratio of 1.54 and a beta of 0.91. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $83.90 and a 200-day moving average of $73.22. Ciena has a 52 week low of $43.30 and a 52 week high of $101.44.

Insider Activity

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $76.41, for a total value of $519,588.00. Following the completion of the sale, the chief executive officer now owns 398,549 shares of the company's stock, valued at approximately $30,453,129.09. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total value of $31,556.00. Following the completion of the sale, the senior vice president now directly owns 49,197 shares of the company's stock, valued at approximately $4,435,601.52. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,442 shares of company stock worth $5,337,764 in the last quarter. 0.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CIEN. Bank of America upgraded Ciena from a "neutral" rating to a "buy" rating and increased their price objective for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Northland Securities increased their price objective on Ciena from $46.00 to $60.00 and gave the company a "market perform" rating in a research report on Friday, December 13th. Barclays raised their price target on Ciena from $67.00 to $97.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upgraded Ciena from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $84.00 to $88.00 in a research report on Tuesday, January 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $95.00 price target on shares of Ciena in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $77.62.

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Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.

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