Friday, September 25, 2020

Wolfe Research Initiated Ciena Corporation [CIEN]. What else is Wall St. saying?

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Ciena Corporation [NYSE: CIEN] price plunged by -2.23 percent to reach at -$0.95.

A sum of 1840035 shares traded at recent session while its average daily volume was at 2.31M shares. Ciena Corporation shares reached a high of $43.275 and dropped to a low of $41.38 until finishing in the latest session at $41.62.

The one-year CIEN stock forecast points to a potential upside of 22.58. The average equity rating for CIEN stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Ciena Corporation [CIEN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CIEN shares is $53.76 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CIEN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Ciena Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 24, 2020. The new note on the price target was released on July 21, 2020, representing the official price target for Ciena Corporation stock. On May 13, 2020, analysts decreased their price target for CIEN shares from 54 to 51.

The Average True Range (ATR) for Ciena Corporation is set at 2.35, with the Price to Sales ratio for CIEN stock in the period of the last 12 months amounting to 1.71. The Price to Book ratio for the last quarter was 2.64, with the Price to Cash per share for the same quarter was set at 7.72. Price to Free Cash Flow for CIEN in the course of the last twelve months was 13.30 with Quick ratio for the last quarter at 3.10.

CIEN Stock Performance Analysis:

Ciena Corporation [CIEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.09. With this latest performance, CIEN shares dropped by -30.33% in over the last four-week period, additionally plugging by 6.09% over the last 6 months – not to mention a rise of 0.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIEN stock in for the last two-week period is set at 26.01, with the RSI for the last a single of trading hit 23.57, and the three-weeks RSI is set at 28.77 for Ciena Corporation [CIEN]. The present Moving Average for the last 50 days of trading for this stock 55.24, while it was recorded at 41.66 for the last single week of trading, and 47.36 for the last 200 days.

Insight into Ciena Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Ciena Corporation [CIEN] shares currently have an operating margin of +10.49 and a Gross Margin at +42.56. Ciena Corporation’s Net Margin is presently recorded at +7.09.

Return on Total Capital for CIEN is now 13.33, given the latest momentum, and Return on Invested Capital for the company is 9.05. Return on Equity for this stock inclined to 12.36, with Return on Assets sitting at 6.63. When it comes to the capital structure of this company, Ciena Corporation [CIEN] has a Total Debt to Total Equity ratio set at 34.77. Additionally, CIEN Total Debt to Total Capital is recorded at 25.80, with Total Debt to Total Assets ending up at 19.40. Long-Term Debt to Equity for the company is recorded at 34.32, with the Long-Term Debt to Total Capital now at 25.47.

Reflecting on the efficiency of the workforce at the company, Ciena Corporation [CIEN] managed to generate an average of $39,705 per employee. Receivables Turnover for the company is 4.33 with a Total Asset Turnover recorded at a value of 0.93.Ciena Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.60.


With the latest financial reports released by the company, Ciena Corporation posted 0.58/share EPS, while the average EPS was predicted by analysts to be reported at 0.63/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ciena Corporation go to 8.90%.

Ciena Corporation [CIEN] Insider Position Details

There are presently around $5,807 million, or 92.50% of CIEN stock, in the hands of institutional investors. The top three institutional holders of CIEN stocks are: VANGUARD GROUP INC with ownership of 14,652,172, which is approximately -1.131% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 14,298,193 shares of the stock with an approximate value of $595.09 million in CIEN stocks shares; and FMR LLC, currently with $257.32 million in CIEN stock with ownership of nearly 294.634% of the company’s market capitalization.

Positions in Ciena Corporation stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 275 institutional holders increased their position in Ciena Corporation [NYSE:CIEN] by around 19,535,803 shares. Additionally, 225 investors decreased positions by around 18,399,600 shares, while 42 investors held positions by with 101,592,256 shares. The mentioned changes placed institutional holdings at 139,527,659 shares, according to the latest SEC report filing. CIEN stock had 115 new institutional investments in for a total of 6,292,031 shares, while 41 institutional investors sold positions of 2,858,203 shares during the same period.

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