The price of CIENA Corp. (NYSE: CIEN) closed at $47.61 in the last session, down -2.08% from day before closing price of $48.62. In other words, the price has decreased by -$1.01 from its previous closing price. On the day, 1574435 shares were traded. CIEN stock price reached its highest trading level at $49.06 during the session, while it also had its lowest trading level at $47.58.
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 5.02 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 11.38. 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 Apr 01 ’24 when SMITH GARY B sold 4,166 shares for $49.39 per share. The transaction valued at 205,767 led to the insider holds 389,275 shares of the business.
Phipps Jason sold 2,792 shares of CIEN for $138,511 on Apr 01 ’24. The SVP Global Sales and Marketing now owns 100,853 shares after completing the transaction at $49.61 per share. On Apr 01 ’24, another insider, Gage Brodie, who serves as the SVP Global Products & Supply of the company, sold 533 shares for $49.61 each. As a result, the insider received 26,442 and left with 41,372 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 6.88B and an Enterprise Value of 7.12B. As of this moment, CIENA’s Price-to-Earnings (P/E) ratio for their current fiscal year is 30.94, and their Forward P/E ratio for the next fiscal year is 14.97. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.36. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.58 while its Price-to-Book (P/B) ratio in mrq is 2.36. Its current Enterprise Value per Revenue stands at 1.63 whereas that against EBITDA is 13.38.
Stock Price History:
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 53.67, while the 200-Day Moving Average is calculated to be 46.70.
Shares Statistics:
According to the various share statistics, CIEN traded on average about 2.14M shares per day over the past 3-months and 1.48M shares per day over the past 10 days. A total of 144.83M shares are outstanding, with a floating share count of 142.50M. Insiders hold about 1.45% of the company’s shares, while institutions hold 93.06% stake in the company. Shares short for CIEN as of Mar 15, 2024 were 5.05M with a Short Ratio of 2.36, compared to 5.36M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 3.49% and a Short% of Float of 4.53%.
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 $4.45B in the next fiscal year. The high estimate is $4.53B and the low estimate is $4.36B. The average revenue growth estimate for next year is up 7.70% from the average revenue estimate for this year.
