Zacks Research Estimates Ciena's Q1 Earnings (NYSE:CIEN)

Ciena Co. (NYSE:CIEN - Free Report) - Investment analysts at Zacks Research dropped their Q1 2027 earnings estimates for shares of Ciena in a report released on Tuesday, April 1st. Zacks Research analyst R. Department now expects that the communications equipment provider will post earnings of $0.59 per share 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.

CIEN has been the topic of a number of other research reports. Morgan Stanley lowered their price objective on Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Needham & Company LLC decreased their price target on Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. B. Riley reaffirmed a "buy" rating and set a $89.00 price objective (down previously from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Barclays set a $100.00 price target on shares of Ciena and gave the stock an "overweight" rating in a report on Wednesday, March 12th. Finally, Rosenblatt Securities decreased their price objective on shares of Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.38.

Ciena Stock Performance

Shares of CIEN traded down $2.66 during mid-day trading on Wednesday, hitting $53.53. 5,780,351 shares of the company's stock were exchanged, compared to its average volume of 1,998,868. 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 firm has a market cap of $7.61 billion, a price-to-earnings ratio of 93.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The stock's 50-day simple moving average is $75.40 and its 200-day simple moving average is $74.21. Ciena has a 52 week low of $43.30 and a 52 week high of $101.44.

Institutional Trading of Ciena

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Ciena by 195.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider's stock valued at $392,345,000 after purchasing an additional 3,062,883 shares during the last quarter. Polar Capital Holdings Plc lifted its stake in Ciena by 113.7% in the fourth quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider's stock valued at $183,987,000 after buying an additional 1,154,260 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Ciena during the 3rd quarter worth approximately $57,861,000. Marshall Wace LLP increased its stake in shares of Ciena by 4,215.9% in the 4th quarter. Marshall Wace LLP now owns 899,828 shares of the communications equipment provider's stock valued at $76,314,000 after acquiring an additional 878,979 shares in the last quarter. Finally, Stephens Investment Management Group LLC acquired a new position in shares of Ciena during the 4th quarter valued at $56,997,000. 91.99% of the stock is currently owned by institutional investors.

Insider Activity at Ciena

In other Ciena news, SVP Jason Phipps sold 18,888 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the sale, the senior vice president now directly owns 89,258 shares of the company's stock, valued at $5,344,769.04. The trade was a 17.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the transaction, the senior vice president now directly owns 49,547 shares of the company's stock, valued at $4,256,582.77. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,200 shares of company stock valued at $4,921,513 in the last 90 days. 0.93% of the stock is owned by corporate insiders.

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.