Ciena Corp (CIEN)

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Ciena Given Average Recommendation of “Buy” by Brokerages

Posted by Wayne Rhoads on Apr 14th, 2014 // No Comments

Shares of Ciena (NASDAQ:CIEN) have received a consensus rating of “Buy” from the twenty-five ratings firms that are covering the stock, AnalystRatingsNetwork.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year pricetarget among brokerages that have issued ratings on the stock in the last year is $27.22.

In other Ciena news, Director Michael Rowny sold 8,571 shares of Ciena stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $23.46, for a total transaction of $201,075.66. Following the sale, the director now directly owns 54,743 shares in the company, valued at approximately $1,284,271. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of research firms have recently commented on CIEN. Analysts at National Alliance Securities initiated coverage on shares of Ciena in a research note on Tuesday, April 8th. They set a “buy” rating and a $27.00 price target on the stock. Separately, analysts at RBC Capital downgraded shares of Ciena from an “outperform” rating to a “sector perform” rating in a research note on Friday, March 28th. They now have a $28.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Ciena in a research note on Wednesday, March 12th. They now have a $24.00 price target on the stock.

Shares of Ciena (NASDAQ:CIEN) opened at 19.41 on Monday. Ciena has a 52-week low of $14.14 and a 52-week high of $27.94. The stock has a 50-day moving average of $23.28 and a 200-day moving average of $23.56. The company’s market cap is $2.039 billion.

Ciena (NASDAQ:CIEN) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $533.70 million for the quarter, compared to the consensus estimate of $533.75 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts expect that Ciena will post $0.89 EPS for the current fiscal year.

Ciena Corporation (NASDAQ:CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.
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