How Have the Numbers Shaped Up for Ciena Stock Forecast, Price & News (NYSE:CIEN)

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Earnings results for Ciena Stock Forecast, Price & News (NYSE:CIEN)

Ciena Corporation is estimated to report earnings on 09/03/2020. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.74. The reported EPS for the same quarter last year was $0.64.

Ciena last issued its quarterly earnings data on June 4th, 2020. The communications equipment provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.49 by $0.27. The firm earned $894 million during the quarter, compared to analysts’ expectations of $889.42 million. Its revenue for the quarter was up 3.3% compared to the same quarter last year. Ciena has generated $1.84 earnings per share over the last year and currently has a price-to-earnings ratio of 29.3. Ciena has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, September 3rd, 2020 based off prior year’s report dates.

Analyst Opinion on Ciena Stock Forecast, Price & News (NYSE:CIEN)

21 Wall Street analysts have issued ratings and price targets for Ciena in the last 12 months. Their average twelve-month price target is $57.40, predicting that the stock has a possible downside of 4.44%. The high price target for CIEN is $73.00 and the low price target for CIEN is $31.00. There are currently 1 sell rating, 3 hold ratings and 17 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Ciena has received a consensus rating of Buy. The company’s average rating score is 2.76, and is based on 17 buy ratings, 3 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $57.40, Ciena has a forecasted downside of 4.4% from its current price of $60.07. Ciena has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Ciena Stock Forecast, Price & News (NYSE:CIEN)

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

Insiders buying/selling: Ciena Stock Forecast, Price & News (NYSE:CIEN)

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 $9,814,270.00 in company stock. Only 0.95% of the stock of Ciena is held by insiders. 88.38% of the stock of Ciena is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Ciena Stock Forecast, Price & News (NYSE:CIEN

Earnings for Ciena are expected to grow by 8.85% in the coming year, from $2.60 to $2.83 per share. The P/E ratio of Ciena is 29.30, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.18. The P/E ratio of Ciena is 29.30, 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 62.74. Ciena has a PEG Ratio of 1.37. PEG Ratios above 1 indicate that a company could be overvalued. Ciena has a P/B Ratio of 4.28. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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