Ciena Corporation (NYSE:CIEN) registered a 1.58% increase, still its new closing price is 56.59% up from the company’s 1 year high of 25.32.It posted -1.77% losses in previous 5 sessions and is now the subject of 4 analysts who together assign a hold rating on stock. 0 of Wall Street analysts have an underperform rating; the 0 sells versus 8 buy or better ratings. The 22 stock analysts following this company have an average price target at $28.39, with individual PT in the $22.00-$35.00 range. The shares moved at $24.46, implying that brokerage firms see shares gaining about 31.58% in twelve months time.
Ciena Corporation (CIEN) SEC Form 4 News
The stock is getting much attention these days as insiders are offloading shares while they posted a 0.20% rise year to date. A PRESIDENT, CEO at Ciena Corporation (CIEN) offloaded shares in a transaction closed on Friday January 27, 2017. SMITH GARY B sold 8,000 shares in the company at $24.72 each and collected $197,001 in proceeds. SMITH GARY B now owns 769,579 shares in the company after this transaction. A SR. VP, Chief Strategy Officer in the company, FRODSHAM JAMES, disclosed a transaction on Tuesday January 17, 2017 that ended up generating $48,001 from the sale of 2,000 shares at $24.25 per share.
Ciena Corporation (NYSE:CIEN) Upcoming Results on Tap
Ciena Corporation will next provide financial results for the January 2017 quarter. Stock analysts expect it to report per-share earnings of $0.29 in that period. Sales during the quarter are predicted to arrive at $632.09 million.
Earnings surprise history: Last quarter, the company posted approximately $716.19 million in revenue and EPS of $0.44. The mean forecast was for $716.93 million and $0.47 a share, respectively. One quarter earlier, revenue for the stock was at $670.55 million, with earnings at $0.42/share.
Ciena Corporation (CIEN) Brokerage Update
Ciena Corporation (CIEN) is in Deutsche Bank’s research list so their analyst rating change is noteworthy. These shares were upgraded to Buy from Hold by Deutsche Bank, according to news reported on Monday November 14, 2016.Another important research note was issued by Morgan Stanley on Friday September 02, 2016.The firm downgraded CIEN to Equal-Weight from Overweight. Over the last six months and over the last three months, the shares of Ciena Corporation (CIEN), have changed 25.24% and 27.33%, respectively.