Currently, there are 144.83M common shares owned by the public and among those 143.13M shares have been available to trade.
Insiders at the company have transacted a total of 175 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 71,333 shares. Insider sales of the common stock occurred on 163 occasions, with total insider shares sold totaling 183,328 shares.
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The company’s stock has a 5-day price change of 9.96% and 34.27% over the past three months. CIEN shares are trading 35.17% year to date (YTD), with the 12-month market performance up to 25.31% higher. It has a 12-month low price of $39.94 and touched a high of $57.73 over the same period. CIEN has an average intraday trading volume of 1.90 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.15%, 19.01%, and 32.77% respectively.
Institutional ownership of CIENA Corp. (NYSE: CIEN) shares accounts for 94.52% of the company’s 144.83M shares outstanding.
It has a market capitalization of $8.82B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 35.61, while the earnings-per-share (ttm) stands at $1.71. The company has a PEG of 5.01 and a Quick Ratio of 2.68 with the debt-to-equity ratio at 0.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.19% over the week and 2.76% over the month.
Analysts forecast that CIENA Corp. (CIEN) will achieve an EPS of $0.47 for the current quarter, $0.65 for the next quarter and $3.62 for 2025. The lowest estimate earnings-per-share for the quarter is $0.37 while analysts give the company a high EPS estimate of $0.54. Comparatively, EPS for the current quarter was $0.64 a year ago. Earnings per share for the fiscal year are expected to increase by 6.64%, and 24.72% over the next financial year.
Looking at the support for the CIEN, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on January 12, 2024, with the firm’s price target at $52-$57. Stifel coverage for the CIENA Corp. (CIEN) stock in a research note released on September 28, 2023 offered a Buy rating with a price target of $62. Needham was of a view on August 28, 2023 that the stock is Buy, while Morgan Stanley gave the stock Equal-Weight rating on March 29, 2023, issuing a price target of $59- $57. Raymond James on their part issued Strong Buy rating on March 28, 2023.
