The Ciena Corporation (NYSE:CIEN) is going down by -3.07% in today’s trading session, a fall equivalent to -1.28% of the stock’s price from yesterday’s market close. A news came out on 08/12/19 stating that Ciena Announces Reporting Date and Web Broadcast for Fiscal Third Quarter 2019 Financial Results by WSJ. The lowest point that the shares touched during the trading session was $41.34, while the peak of the day was recorded at a share price of $42.80. CIEN finished the previous session at $41.68 according to the data provided by Barchart, while the trading volume was observed to be $983,527.
In the 100 days of trading, CIEN managed to top a 40.09% Moving average. Additionally, Ciena Corporation shares have achieved a 52-week range between 25.71 and 46.78 alongside 100 days raw stochastic set at 54.42%.
The number of shares outstanding, according to the fundamentals of the company, is set at 155.91M, equal to the value of $6.50B in market capitalization. Financial analysts indicate that CIEN shares should be still ranked as a “Outperform”. In the last 30 days, Ciena Corporation shares went down by -13.66%, adding 46.78 to growth in value, on top of a +0.75% boost since 07/15/19.
Ciena Corporation (NYSE:CIEN) Analyst’s Estimates
Ciena Corporation (CIEN) could record at least $0.57 per share in quarterly earnings in the upcoming report on 09/05/2019, a number that would actually represent an increase of 23.40% YOY.
According to the average analyst rating, Ciena Corporation would be rated as 2.10. Out of 20 different analysts monitoring CIEN stock, 5 analysts rate the stock as a BUY, 7 suggest to give the rating of HOLD, 8 indicate that CIEN is an OUTPERFORM, 0 rated the stock as a SELL, and 0 analyst believes that the stock should be rated as UNDERPERFORM.
On Aug-08-19, the stock earned a Initiated rating due to a new analyst call from Barclays, while analysts from Northland Capital believe that the stock is set at Outperform from Market Perform, as concluded on Apr-15-19. Dougherty & Company, is still rather wary about the stock, deciding to keep the rating at Buy as confirmed through a call on Mar-06-19.
Regardless of the rating, B. Riley FBR did increase their price from $42.20 to $48 as they are considering target share price analysis. BofA/Merrill, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on Jan-30-19, giving the stock a Neutral from the Buy rating.
CIEN Key Ratios To Watch:
Taking in account the profitability of the Company, gross profit margin of +41.98% has been attained, while the operating margin has been recorded at +8.18%. The firm is also showcasing profitability through returns on assets in the company’s ownership, with ROA set at -8.94%. Beta value of the stock is recorded at 1.10. Additionally, Ciena Corporation is recording price volatility of 2.40% for the period of the last seven days and 2.51% in the last 30 days.
Ciena Corporation (NYSE:CIEN) Technical Outlook
For the period of the last 50 days, Ciena Corporation had its Raw Stochastic average set at 4.48% for the latest technical analysis. In comparison to the period of the last 20 days, the present Raw Stochastic average for the last 50 days poses as improvement, set at 4.48%. Stochastic %K for Ciena Corporation, with the last 20 days included, was set at 19.78%, having Stochastic %D topping 30.88%. Based on the previous performance of the company for the mentioned period, there are more than several recorded moving trends. When it comes to the period of the last 12 months, accounting the time for year-to-date, price performance appears to be encouraging for Ciena Corporation stocks with recording 59.75% in metrics.
Ciena Corporation Insider Watch:
As far as the position of shares issued by Ciena Corporation (NYSE:CIEN) for the period concluded at the market close of 08/14/19, 209 institutional investors increased their positions in CIEN shares by 18,036,139, 235 decreased positions by 24,969,375 and 43 institutional investors decided to hold positions at 96,415,356. These numbers put the complete list of institutional holdings set at 139,420,870 shares, in accordance with filings submitted to the Securities and Exchange Commission. The stock had another 72 institutional investments with 6,816,198 new shares in addition to having 62 institutional investors selling their positions in 3,333,546 shares.