Zacks Research Issues Negative Forecast for Ciena Earnings

Ciena Co. (NYSE:CIEN) – Zacks Research reduced their Q1 2027 earnings per share estimates for Ciena in a note issued to investors on Tuesday, April 1st. Zacks Research analyst R. Department now expects that the communications equipment provider will earn $0.59 per share for the quarter, down from their previous estimate of $0.66. The consensus estimate for Ciena’s current full-year earnings is $1.60 per share.

A number of other equities analysts have also commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price target (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Northland Capmk raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Needham & Company LLC dropped their price target on shares of Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Morgan Stanley reduced their price target on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Finally, Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $95.00 in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ciena currently has a consensus rating of “Moderate Buy” and an average price target of $81.38.

Ciena Stock Up 1.8 %

CIEN stock opened at $61.53 on Wednesday. The business’s fifty day moving average price is $77.71 and its two-hundred day moving average price is $74.29. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 107.96, a PEG ratio of 1.54 and a beta of 0.91. Ciena has a fifty-two week low of $43.30 and a fifty-two week high of $101.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CIEN. MassMutual Private Wealth & Trust FSB lifted its holdings in Ciena by 66.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider’s stock worth $39,000 after buying an additional 256 shares during the period. 111 Capital bought a new stake in Ciena in the fourth quarter valued at approximately $428,000. Carolinas Wealth Consulting LLC acquired a new stake in Ciena during the 4th quarter valued at approximately $106,000. Forum Financial Management LP bought a new position in Ciena during the 4th quarter worth approximately $259,000. Finally, Orion Capital Management LLC acquired a new position in shares of Ciena in the 4th quarter worth approximately $42,000. Institutional investors own 91.99% of the company’s stock.

Insider Activity

In other Ciena news, SVP Jason Phipps sold 5,648 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.64, for a total value of $478,046.72. Following the sale, the senior vice president now owns 109,878 shares in the company, valued at $9,300,073.92. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce L. Claflin sold 16,912 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the transaction, the director now owns 59,347 shares of the company’s stock, valued at $5,042,121.12. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,560 shares of company stock worth $5,406,323. Corporate 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.