Should you short it before the Earnings result? : Ciena (NYSE:CIEN)

Earnings results for Ciena (NYSE:CIEN)

Ciena Corporation is expected* to report earnings on 06/03/2021 before market open. The report will be for the fiscal Quarter ending Apr 2021. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.39. The reported EPS for the same quarter last year was $0.66.

Ciena last issued its earnings data on March 3rd, 2021. The communications equipment provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The firm had revenue of $757.10 million for the quarter, compared to analysts’ expectations of $750.24 million. Its revenue was down 9.1% compared to the same quarter last year. Ciena has generated $2.65 earnings per share over the last year and currently has a price-to-earnings ratio of 24.0. Ciena has confirmed that its next quarterly earnings report will be published on Thursday, June 3rd, 2021.

Analyst Opinion on Ciena (NYSE:CIEN)

20 Wall Street analysts have issued ratings and price targets for Ciena in the last 12 months. Their average twelve-month price target is $58.94, predicting that the stock has a possible upside of 8.33%. The high price target for CIEN is $73.00 and the low price target for CIEN is $50.00. There are currently 5 hold ratings and 15 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 2.75, and is based on 15 buy ratings, 5 hold ratings, and no sell ratings. According to analysts’ consensus price target of $58.94, Ciena has a forecasted upside of 8.3% from its current price of $54.41. Ciena has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: Ciena (NYSE:CIEN)

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

Insiders buying/selling: Ciena (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 $2,202,735.00 in company stock. Only 0.96% of the stock of Ciena is held by insiders. 90.18% 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 (NYSE:CIEN

Earnings for Ciena are expected to grow by 18.50% in the coming year, from $2.27 to $2.69 per share. The P/E ratio of Ciena is 23.97, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 30.11. The P/E ratio of Ciena is 23.97, 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 48.07. Ciena has a PEG Ratio of 1.45. PEG Ratios above 1 indicate that a company could be overvalued. 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.

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