The closing price of CIENA Corp. (NYSE: CIEN) was $51.54 for the day, down -5.05% from the previous closing price of $54.28. In other words, the price has decreased by -$2.74 from its previous closing price. On the day, 3007502 shares were traded.
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Ratios:
Our analysis of CIEN’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 5.43 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 12.32. 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:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Mar 01 ’24 when SMITH GARY B sold 8,332 shares for $60.20 per share. The transaction valued at 501,601 led to the insider holds 407,342 shares of the business.
SMITH GARY B sold 8,332 shares of CIEN for $473,782 on Feb 15 ’24. The President, CEO now owns 415,674 shares after completing the transaction at $56.86 per share. On Feb 15 ’24, another insider, Rothenstein David M, who serves as the SVP and Chief Strategy Officer of the company, sold 3,500 shares for $56.69 each. As a result, the insider received 198,415 and left with 233,501 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 7.85B and an Enterprise Value of 8.09B. As of this moment, CIENA’s Price-to-Earnings (P/E) ratio for their current fiscal year is 33.50, and their Forward P/E ratio for the next fiscal year is 16.21. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.72. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.71 while its Price-to-Book (P/B) ratio in mrq is 2.56. Its current Enterprise Value per Revenue stands at 1.85 whereas that against EBITDA is 15.19.
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 52.94, while the 200-Day Moving Average is calculated to be 46.26.
Shares Statistics:
CIEN traded an average of 2.15M shares per day over the past three months and 3.85M shares per day over the past ten 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 93.40% stake in the company. Shares short for CIEN as of Feb 15, 2024 were 5.36M with a Short Ratio of 2.49, compared to 4.52M on Jan 12, 2024. Therefore, it implies a Short% of Shares Outstanding of 3.70% and a Short% of Float of 4.79%.
Earnings Estimates
The firm’s stock currently is rated by 13 analysts. 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.
