Ciena Corporation [NYSE: CIEN] price plunged by -3.81 percent to reach at -$1.68. The company report on November 17, 2020 that Blue Planet Selected by BT to Enhance End User Digital Experience for Global Customers.
Intelligent automation software from Blue Planet further enhances speed and reliability of BT’s cloud-based collaboration services for multinational customers.
Blue Planet, a division of Ciena (NYSE: CIEN), is providing BT with intelligent automation software as part of the global service provider’s drive to deliver market-leading user experience for its multinational enterprise customers. The software will help BT provide its customers with quicker and more reliable access to cloud-based collaboration tools, such as file sharing and messaging applications.
A sum of 4027167 shares traded at recent session while its average daily volume was at 2.39M shares. Ciena Corporation shares reached a high of $42.89 and dropped to a low of $41.78 until finishing in the latest session at $42.36.
The one-year CIEN stock forecast points to a potential upside of 20.17. 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 $53.06 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.
Rosenblatt have made an estimate for Ciena Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 18, 2020. The new note on the price target was released on July 24, 2020, representing the official price target for Ciena Corporation stock. Previously, the target price had yet another raise to $65, while Needham analysts kept a Buy rating on CIEN stock.
The Average True Range (ATR) for Ciena Corporation is set at 1.27, with the Price to Sales ratio for CIEN stock in the period of the last 12 months amounting to 1.74. The Price to Book ratio for the last quarter was 2.69, with the Price to Cash per share for the same quarter was set at 7.73. Price to Free Cash Flow for CIEN in the course of the last twelve months was 13.52 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 -1.26. With this latest performance, CIEN shares gained by 3.95% in over the last four-week period, additionally sinking by -18.10% over the last 6 months – not to mention a rise of 13.23% 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 53.46, with the RSI for the last a single of trading hit 51.54, and the three-weeks RSI is set at 49.00 for Ciena Corporation [CIEN]. The present Moving Average for the last 50 days of trading for this stock 41.17, while it was recorded at 43.31 for the last single week of trading, and 47.40 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.
CIEN Stock EPS
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 $5,740 million, or 92.90% of CIEN stock, in the hands of institutional investors. The top three institutional holders of CIEN stocks are: VANGUARD GROUP INC with ownership of 14,087,430, which is approximately -3.854% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 13,585,364 shares of the stock with an approximate value of $575.48 million in CIEN stocks shares; and FMR LLC, currently with $286.64 million in CIEN stock with ownership of nearly 9.45% 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 236 institutional holders increased their position in Ciena Corporation [NYSE:CIEN] by around 12,830,682 shares. Additionally, 265 investors decreased positions by around 15,574,139 shares, while 59 investors held positions by with 107,095,931 shares. The mentioned changes placed institutional holdings at 135,500,752 shares, according to the latest SEC report filing. CIEN stock had 73 new institutional investments in for a total of 4,666,900 shares, while 88 institutional investors sold positions of 4,948,093 shares during the same period.