The Ciena Corporation (NYSE:CIEN) is going up by 1.08% in today’s trading session, a rise equivalent to 0.43% of the stock’s price from yesterday’s market close. A news came out on 09/16/19 stating that SEA-ME-WE 5 Upgrades with Ciena’s GeoMesh Extreme by WSJ. The lowest point that the shares touched during the trading session was $39.94, while the peak of the day was recorded at a share price of $40.95. CIEN finished the previous session at $40.00 according to the data provided by Barchart, while the trading volume was observed to be $1,748,379.
In the 100 days of trading, CIEN managed to top a 40.69% Moving average. Additionally, Ciena Corporation shares have achieved a 52-week range between 28.23 and 46.78 alongside 100 days raw stochastic set at 55.35%.
The number of shares outstanding, according to the fundamentals of the company, is set at 155.49M, equal to the value of $6.22B in market capitalization. In the last 30 days, Ciena Corporation shares went down by -4.59%, adding 42.47 to growth in value, on top of a +6.80% boost since 08/20/19.
Ciena Corporation (NYSE:CIEN) Analyst’s Estimates
Ciena Corporation (CIEN) could record at least $0.63 per share in quarterly earnings in the upcoming report on 12/16/2019, a number that would actually represent an increase of 18.74% YOY.
According to the average analyst rating, Ciena Corporation would be rated as Overweight. Out of 20 different analysts monitoring CIEN stock, 14 analysts rate the stock as a BUY, 5 suggest to give the rating of HOLD, 1 indicate that CIEN is an OVERWEIGHT, 0 rated the stock as a SELL, and 0 analyst believes that the stock should be rated as UNDERWEIGHT.
On Sep-11-19, the stock earned a Initiated rating due to a new analyst call from Evercore ISI, while analysts from Rosenblatt believe that the stock is set at Buy from Neutral, as concluded on Aug-29-19. Barclays, is still rather wary about the stock, deciding to keep the rating at Overweight as confirmed through a call on Aug-08-19.
Regardless of the rating, Northland Capital did increase their price to $42 as they are considering target share price analysis. Dougherty & Company, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on Mar-06-19, giving the stock a 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 1.04. Additionally, Ciena Corporation is recording price volatility of 3.10% for the period of the last seven days and 2.99% 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 29.19% 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 56.95%. Stochastic %K for Ciena Corporation, with the last 20 days included, was set at 51.51%, having Stochastic %D topping 54.28%. 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 17.96% in metrics.
Ciena Corporation Insider Watch:
Similarly, 96.11% of the company’s float is held by institutions – and there are 490 institutions in total holding shares of this company. The top three institutional holders of CIEN stocks are: Blackrock Inc. with ownership of $638.19 million, which is approximately 15,516,441 of the company’s shares; Vanguard Group, Inc. (The), holding 14,732,297 shares of the stock with an approximate value of $605.94 million; and Bank Of New York Mellon Corporation, currently with more than 4,155,862 shares of the company valued at $170.93 million. Positions in Ciena Corporation stocks held by institutional investors has been changing actively in the past six months, a period during which there were 8 insider purchases amounting to 39,917 shares. Similarly, there were 63 sale transactions amounting to 267,086 shares, with the net shares purchased during the last six months reaching -227,169.