The price of CIENA Corp. (NYSE: CIEN) closed at $50.22 in the last session, up 0.97% from day before closing price of $49.74. In other words, the price has increased by $+0.48 from its previous closing price. On the day, 1289693 shares were traded.
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Ratios:
We take a closer look at CIEN’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 5.30 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 12.01. For the most recent quarter (mrq), Quick Ratio is recorded 3.09 and its Current Ratio is at 4.26. In the meantime, Its Debt-to-Equity ratio is 0.55 whereas as Long-Term Debt/Eq ratio is at 0.54.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Evercore ISI on January 12, 2024, Upgraded its rating to Outperform and sets its target price to $57 from $52 previously.
On September 28, 2023, Stifel started tracking the stock assigning a Buy rating and target price of $62.
Needham reiterated its Buy rating for the stock on August 28, 2023, while the target price for the stock was revised from $60 to $50.
Insider Transactions:
An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 15 ’24 when SMITH GARY B sold 4,166 shares for $49.84 per share. The transaction valued at 207,628 led to the insider holds 403,176 shares of the business.
Rothenstein David M sold 3,500 shares of CIEN for $175,665 on Mar 15 ’24. The SVP and Chief Strategy Officer now owns 230,001 shares after completing the transaction at $50.19 per share. On Mar 01 ’24, another insider, SMITH GARY B, who serves as the President, CEO of the company, sold 8,332 shares for $60.20 each. As a result, the insider received 501,601 and left with 407,342 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CIEN now has a Market Capitalization of 7.26B and an Enterprise Value of 7.50B. As of this moment, CIENA’s Price-to-Earnings (P/E) ratio for their current fiscal year is 32.64, and their Forward P/E ratio for the next fiscal year is 15.80. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.60. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.66 while its Price-to-Book (P/B) ratio in mrq is 2.49. Its current Enterprise Value per Revenue stands at 1.72 whereas that against EBITDA is 14.09.
Stock Price History:
The Beta on a monthly basis for CIEN is 1.01, which has changed by 2.28% over the last 52 weeks, in comparison to a change of 32.31% over the same period for the S&P500. Over the past 52 weeks, CIEN has reached a high of $63.24, while it has fallen to a 52-week low of $39.94. The 50-Day Moving Average of the stock is 53.76, while the 200-Day Moving Average is calculated to be 46.41.
Shares Statistics:
According to the various share statistics, CIEN traded on average about 2.16M shares per day over the past 3-months and 3.65M shares per day over the past 10 days. A total of 144.83M shares are outstanding, with a floating share count of 142.73M. Insiders hold about 1.29% of the company’s shares, while institutions hold 93.30% stake in the company. Shares short for CIEN as of Feb 29, 2024 were 6M with a Short Ratio of 2.77, compared to 4.61M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 4.14% and a Short% of Float of 5.36%.
Earnings Estimates
The company has 13 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0.14 for the current quarter, with a high estimate of $0.24 and a low estimate of $0.09, while EPS last year was $0.74. The consensus estimate for the next quarter is $0.54, with high estimates of $0.66 and low estimates of $0.4.
Analysts are recommending an EPS of between $2.6 and $1.96 for the fiscal current year, implying an average EPS of $2.29. EPS for the following year is $3.18, with 13 analysts recommending between $3.49 and $2.82.
Revenue Estimates
A total of 13 analysts have provided revenue estimates for CIEN’s current fiscal year. The highest revenue estimate was $4.18B, while the lowest revenue estimate was $4.05B, resulting in an average revenue estimate of $4.13B. In the same quarter a year ago, actual revenue was $4.39B, down -5.90% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $4.47B in the next fiscal year. The high estimate is $4.63B and the low estimate is $4.36B. The average revenue growth estimate for next year is up 8.30% from the average revenue estimate for this year.
