Zacks Research Has Negative Estimate for Ciena Q1 Earnings

Ciena Co. (NYSE:CIEN - Free Report) - Equities researchers at Zacks Research lowered their Q1 2027 earnings estimates for shares of Ciena in a research note issued to investors on Tuesday, April 1st. Zacks Research analyst R. Department now anticipates that the communications equipment provider will post earnings per share of $0.59 for the quarter, down from their previous forecast of $0.66. The consensus estimate for Ciena's current full-year earnings is $1.60 per share.

A number of other equities research analysts have also recently commented on CIEN. Bank of America upgraded Ciena from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $70.00 to $95.00 in a research note on Friday, December 13th. Stifel Nicolaus reissued a "buy" rating and set a $82.00 target price (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $60.00 to $75.00 in a report on Wednesday, March 12th. Rosenblatt Securities reduced their price objective on Ciena from $94.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised Ciena from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $84.00 to $88.00 in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.38.

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Ciena Stock Performance

Ciena stock traded down $2.66 during mid-day trading on Wednesday, reaching $53.53. 5,780,351 shares of the company's stock were exchanged, compared to its average volume of 1,996,189. The firm has a market capitalization of $7.61 billion, a PE ratio of 93.91, a P/E/G ratio of 1.54 and a beta of 1.15. 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's fifty day simple moving average is $75.40 and its 200 day simple moving average is $74.08. Ciena has a one year low of $43.30 and a one year high of $101.44.

Hedge Funds Weigh In On Ciena

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC grew its position in Ciena by 108.6% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock worth $25,000 after acquiring an additional 151 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 296 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock valued at $30,000 after buying an additional 279 shares in the last quarter. Bessemer Group Inc. lifted its position in Ciena by 73.7% in the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock worth $30,000 after buying an additional 151 shares during the last quarter. Finally, Atlas Capital Advisors Inc. lifted its position in Ciena by 77.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock worth $36,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company's stock.

Insider Buying and Selling

In related news, SVP Jason Phipps sold 18,888 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the completion of the transaction, the senior vice president now directly owns 89,258 shares in the company, valued at $5,344,769.04. The trade was a 17.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the sale, the senior vice president now directly owns 49,547 shares in the company, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,200 shares of company stock valued at $4,921,513. Company insiders own 0.93% of the company's stock.

About Ciena

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.