Ciena (CIEN) Stock Price, News & Analysis

Company Overview

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. Its products include 6500 Packet-Optical Platform, Waveserver stackable interconnect system, and the 6500 Reconfigurable line system, and the 5400 family of Packet-Optical platforms, as well as 8100 coherent routing platforms; 3000 family of service delivery switches and the 5000 family of service aggregation switches, as well as 8700 Packetwave Platform and 6500 Packet Transport System. This segment also sells operating system software and enhanced software features embedded in each of its products. The company's Blue Planet Automation Software and Services segment provides multi-domain service orchestration, inventory, route optimization and analysis, multi-cloud orchestration, and unified assurance and analytics services. Its Platform Software and Service segment offers MCP domain controller solution, and OneControl unified management system, as well as planning tools. The company's Global Services segment provides maintenance support and training, installation and deployment, and consulting and network design services. Ciena Corporation was incorporated in 1992 and is headquartered in Hanover, Maryland.

Key Stats

• Today's Range: $64.72 to $68.30
• 50-Day Range: $45.78 to $66.69
• 52-Week Range: $39.94 to $68.31
• Volume: 3.06 million shs
• Average Volume: 1.82 million shs
• Market Capitalization: $9.69 billion
• P/E Ratio: 64.85
• Dividend Yield: N/A
• Price Target: $61.38
• Consensus Rating: Moderate Buy

Ciena Stock Analysis - MarketRank™

Ciena scored higher than 91% of companies evaluated by MarketBeat, and ranked 107th out of 668 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Ciena has received a consensus rating of Moderate Buy. The company's average rating score is 2.62, and is based on 8 buy ratings, 5 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Ciena has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 60.00%

Earnings Growth

Earnings for Ciena are expected to grow by 60.00% in the coming year, from $1.15 to $1.84 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Ciena is 64.53, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 132.68.

Price to Earnings Ratio vs. Sector

The P/E ratio of Ciena is 64.53, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 260.42.

Price to Earnings Growth Ratio

Ciena has a PEG Ratio of 7.93. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Ciena has a P/B Ratio of 3.35. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

4.17% of the float of Ciena has been sold short.

Short Interest Ratio / Days to Cover

Ciena has a short interest ratio ("days to cover") of 3.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Ciena has recently increased by 3.13%, indicating that investor sentiment is decreasing.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Ciena does not currently pay a dividend.

Dividend Growth

Ciena does not have a long track record of dividend growth.

Sustainability and ESG

• Score: 3.9 / 5
• Environmental Score: -0.77

Percentage of Shares Shorted

4.17% of the float of Ciena has been sold short.

Short Interest Ratio / Days to Cover

Ciena has a short interest ratio ("days to cover") of 3.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Ciena has recently increased by 3.13%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 2.4 / 5
• News Sentiment: 0.38

News Sentiment

Ciena has a news sentiment score of 0.38. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.49 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 22 news articles for Ciena this week, compared to 8 articles on an average week.

Search Interest

Only 17 people have searched for CIEN on MarketBeat in the last 30 days. This is a decrease of -11% compared to the previous 30 days.

MarketBeat Follows

10 people have added Ciena to their MarketBeat watchlist in the last 30 days. This is an increase of 150% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Ciena insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $502,953.00 in company stock.

Percentage Held by Insiders

Only 0.83% of the stock of Ciena is held by insiders.

Percentage Held by Institutions

91.99% of the stock of Ciena is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CIEN Stock Analysis - Frequently Asked Questions

How have CIEN shares performed this year?

Ciena's stock was trading at $45.01 at the start of the year. Since then, CIEN stock has increased by 49.1% and is now trading at $67.11.
View the best growth stocks for 2024 here.

How were Ciena's earnings last quarter?

Ciena Co. (NYSE:CIEN) announced its earnings results on Wednesday, September, 4th. The communications equipment provider reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.09. Ciena's quarterly revenue was down 11.8% compared to the same quarter last year.

How will Ciena's stock buyback program work?

Ciena's Board of Directors approved a stock repurchase program on Wednesday, October 2nd 2024, which permits the company to repurchase $1,000,000,000 in shares, according to EventVestor. This means that the company could reacquire up to 10.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Does Ciena have any subsidiaries?

Ciena subsidiaries include these companies: Centina Systems Inc, DonRiver, Packet Design, cyan, World Wide Packets, PhyFlex Networks, Catena Networks, and others.

Who are Ciena's major shareholders?

Top institutional shareholders of Ciena include Perpetual Ltd (0.25%), Pacifica Partners Inc. (0.02%), Park Avenue Securities LLC (0.02%) and CWM LLC (0.02%). Insiders that own company stock include James E Moylan Jr, David M Rothenstein, Jason Phipps, Scott Mcfeely, Stephen B Alexander, Judith M Obrien, Rick Hamilton, Joseph Cumello, Brodie Gage, Andrew C Petrik and Thomas Michael Nevens.
View institutional ownership trends.

How do I buy shares of Ciena?

Shares of CIEN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Ciena own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Ciena investors own include NVIDIA (NVDA), Bank of America (BAC), Advanced Micro Devices (AMD), Micron Technology (MU), Intel (INTC), Alibaba Group (BABA) and Cisco Systems (CSCO).

Company Calendar

• Last Earnings: 9/04/2024
• Today: 10/09/2024
• Fiscal Year End: 10/31/2024
• Next Earnings (Estimated): 12/05/2024

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Computer and Technology
• Industry: Telephone & telegraph apparatus
• Sub-Industry: Communications Equipment
• Current Symbol: NYSE:CIEN
• CUSIP: 17177930
• CIK: 936395
• Web: www.ciena.com
• Phone: (410) 694-5700
• Fax: 410-694-5750
• Employees: 8,483
• Year Founded: 1992

Price Target and Rating

• Average Stock Price Target: $62.92
• High Stock Price Target: $75.00
• Low Stock Price Target: $46.00
• Potential Upside/Downside: -9.0%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.69
• Research Coverage: 13 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.04
• Trailing P/E Ratio: 64.85
• Forward P/E Ratio: 58.64
• P/E Growth: 7.93
• Net Income: $254.83 million
• Net Margins: 3.44%
• Pretax Margin: 3.54%
• Return on Equity: 5.98%
• Return on Assets: 3.08%

Debt

• Debt-to-Equity Ratio: 0.53
• Current Ratio: 4.06
• Quick Ratio: 2.99

Sales & Book Value

• Annual Sales: $4.02 billion
• Price / Sales: 2.41
• Cash Flow: $3.30 per share
• Price / Cash Flow: 20.46
• Book Value: $20.02 per share
• Price / Book: 3.37

Miscellaneous

• Outstanding Shares: 143,705,000
• Free Float: 142,512,000
• Market Cap: $9.69 billion
• Optionable: Optionable
• Beta: 0.94