CIENA Corp. (CIEN) concluded trading on Thursday at a closing price of $45.68, with 2.58 million shares of worth about $118.06 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.91% during that period and on April 25, 2024 the price saw a gain of about 1.42%. Currently the company’s common shares owned by public are about 144.83M shares, out of which, 142.48M shares are available for trading.
Stock saw a price change of 4.36% in past 5 days and over the past one month there was a price change of -7.75%. Year-to-date (YTD), CIEN shares are showing a performance of 1.49% which increased to 0.82% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $39.94 but also hit the highest price of $63.24 during that period. The average intraday trading volume for CIENA Corp. shares is 2.09 million. The stock is currently trading -1.91% below its 20-day simple moving average (SMA20), while that difference is down -10.84% for SMA50 and it goes to -2.70% lower than SMA200.
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CIENA Corp. (NYSE: CIEN) currently have 144.83M outstanding shares and institutions hold larger chunk of about 92.62% of that.
The stock has a current market capitalization of $6.61B and its 3Y-monthly beta is at 1.01. PE ratio of stock for trailing 12 months is 29.69, while it has posted earnings per share of $1.54 in the same period. Its PEG reads 4.18 and has Quick Ratio of 3.09 while making debt-to-equity ratio of 0.55. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CIEN, volatility over the week remained 2.12% while standing at 1.87% over the month.
Analysts are in expectations that CIENA Corp. (CIEN) stock would likely to be making an EPS of $0.14 in the current quarter, while forecast for next quarter EPS is $0.53 and it is $3.15 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.09 which is $0.24 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.74 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -16.00% while it is estimated to increase by 37.70% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on April 12, 2024 offering a Sell rating for the stock and assigned a target price of $44 to it. Coverage by Exane BNP Paribas stated CIENA Corp. (CIEN) stock as an Outperform in their note to investors on April 11, 2024, suggesting a price target of $57 for the stock. On January 12, 2024, Evercore ISI Upgrade their recommendations, while on September 28, 2023, Stifel Initiated their ratings for the stock with a price target of $62. Stock get a Buy rating from Needham on August 28, 2023.
