Ciena Corporation (NYSE: CIEN) is -1.49% lower on its value in year-to-date trading and has touched a low of $38.03 and a high of $61.51 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CIEN stock was last observed hovering at around $52.91 in the last trading session, with the day’s loss setting it -0.85% off its average median price target of $62.00 for the next 12 months. It is also 19.91% off the consensus price target high of $65.00 offered by 18 analysts, but current levels are -15.69% lower than the price target low of $45.00 for the same period.
Currently trading at $52.06, the stock is -6.10% and -4.07% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.59 million and changing -1.61% at the moment leaves the stock 3.01% off its SMA200. CIEN registered 10.79% gain for a year compared to 6-month gain of 28.32%. The firm has a 50-day simple moving average (SMA 50) of $55.15 and a 200-day simple moving average (SMA200) of $50.27.
The stock witnessed a -5.19% loss in the last 1 month and extending the period to 3 months gives it a -7.87%, and is -5.21% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.14% over the week and 2.10% over the month.
Ciena Corporation (CIEN) has around 7032 employees, a market worth around $7.98B and $3.46B in sales. Current P/E ratio is 22.93 and Fwd P/E is 16.74. Profit margin for the company is 10.30%. Distance from 52-week low is 36.89% and -15.37% from its 52-week high. The company has generated returns on investments over the last 12 months (12.00%).
Ciena Corporation (CIEN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Ciena Corporation (CIEN) is a “Buy”. 18 analysts offering their recommendations for the stock have an average rating of 1.80, where 3 rate it as a Hold and 1 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Ciena Corporation is expected to release its quarterly report on 06/10/2021 and quarterly earnings per share for the current quarter are estimated at $0.48 with sales reaching $829.54M over the same period.The EPS is expected to grow by 44.10% this year, but quarterly earnings will post 1.70% year-over-year. Quarterly sales are estimated to shrink -5.90% in year-over-year returns.
Ciena Corporation (CIEN) Top Institutional Holders
660 institutions hold shares in Ciena Corporation (CIEN), with 1.39M shares held by insiders accounting for 0.90% while institutional investors hold 95.82% of the company’s shares. The shares outstanding are 155.17M, and float is at 153.39M with Short Float at 2.51%. Institutions hold 94.95% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 14.79 million shares valued at $781.76 million. The investor’s holdings represent 9.54% of the CIEN Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 14.31 million shares valued at $756.43 million to account for 9.23% of the shares outstanding. The other top investors are FMR, LLC which holds 5.01 million shares representing 3.23% and valued at over $264.6 million, while Spring Creek Capital LLC holds 3.00% of the shares totaling 4.65 million with a market value of $245.88 million.
Ciena Corporation (CIEN) Insider Activity
A total of 192 insider transactions have happened at Ciena Corporation (CIEN) in the last six months, with sales accounting for 158 and purchases happening 34 times. The most recent transaction is an insider sale by PETRIK ANDREW C, the company’s VP, CONTROLLER. SEC filings show that PETRIK ANDREW C sold 1,000 shares of the company’s common stock on Apr 15 at a price of $56.25 per share for a total of $56250.0. Following the sale, the insider now owns 36522.0 shares.
Ciena Corporation disclosed in a document filed with the SEC on Apr 15 that Rothenstein David M (Sr. VP, General Counsel) sold a total of 3,000 shares of the company’s common stock. The trade occurred on Apr 15 and was made at $56.25 per share for $0.17 million. Following the transaction, the insider now directly holds 0.27 million shares of the CIEN stock.
Still, SEC filings show that on Apr 15, ALEXANDER STEPHEN B (SVP, Chief Technology Officer) disposed off 2,000 shares at an average price of $56.25 for $0.11 million. The insider now directly holds 82,464 shares of Ciena Corporation (CIEN).
Ciena Corporation (CIEN): Who are the competitors?
The company’s main competitors (and peers) include Infinera Corporation (INFN) that is trading 51.57% up over the past 12 months. Juniper Networks Inc. (JNPR) is 5.51% up on the 1-year trading charts. Short interest in the company’s stock has risen 4.94% from the last report on Apr 14, 2021 to stand at a total of 3.85 million short shares sold with a short interest ratio of 3.52.