Ciena Corporation [NYSE: CIEN] gained 1.66% or 1.0 points to close at $61.29 with a heavy trading volume of 829304 shares. The company report on November 18, 2021 that Ciena Announces Reporting Date and Web Broadcast for Fiscal Fourth Quarter and Year End 2021 Results.
Ciena® Corporation (NYSE: CIEN) expects to announce its fiscal fourth quarter and year end financial results on Thursday, December 9, 2021 before the open of the financial markets. The press release will be available on Ciena’s website at www.ciena.com.
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In conjunction with the announcement, Ciena will post an additional set of supporting materials to the Quarterly Results page of the Investor Relations section of its website. Ciena’s management will then host a live audio web broadcast beginning at 8:30 a.m. Eastern accessible via www.ciena.com.
It opened the trading session at $60.35, the shares rose to $61.515 and dropped to $60.12, the range by which the price of stock traded the whole day. The daily chart for CIEN points out that the company has recorded 15.77% gains over the past six months. However, it is still -41.84% lower than its most recent low trading price.
If we look at the average trading volume of 1.07M shares, CIEN reached to a volume of 829304 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $66.12 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.
BofA Securities have made an estimate for Ciena Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 21, 2021. The new note on the price target was released on November 18, 2020, representing the official price target for Ciena Corporation stock.
The Average True Range (ATR) for Ciena Corporation is set at 1.33, with the Price to Sales ratio for CIEN stock in the period of the last 12 months amounting to 2.82. The Price to Book ratio for the last quarter was 3.25, with the Price to Cash per share for the same quarter was set at 9.01. Price to Free Cash Flow for CIEN in the course of the last twelve months was 24.91 with Quick ratio for the last quarter at 3.20.
Trading performance analysis for CIEN stock
Ciena Corporation [CIEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.74. With this latest performance, CIEN shares gained by 16.81% in over the last four-week period, additionally plugging by 15.77% over the last 6 months – not to mention a rise of 39.33% 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 67.32, with the RSI for the last a single of trading hit 66.14, and the three-weeks RSI is set at 65.84 for Ciena Corporation [CIEN]. The present Moving Average for the last 50 days of trading for this stock 55.31, while it was recorded at 60.84 for the last single week of trading, and 55.24 for the last 200 days.
Ciena Corporation [CIEN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Ciena Corporation [CIEN] shares currently have an operating margin of +14.54 and a Gross Margin at +46.13. Ciena Corporation’s Net Margin is presently recorded at +10.23.
Return on Total Capital for CIEN is now 16.39, given the latest momentum, and Return on Invested Capital for the company is 11.60. Return on Equity for this stock inclined to 15.43, with Return on Assets sitting at 8.95. When it comes to the capital structure of this company, Ciena Corporation [CIEN] has a Total Debt to Total Equity ratio set at 33.00. Additionally, CIEN Total Debt to Total Capital is recorded at 24.81, with Total Debt to Total Assets ending up at 19.81. Long-Term Debt to Equity for the company is recorded at 31.85, with the Long-Term Debt to Total Capital now at 23.95.
Reflecting on the efficiency of the workforce at the company, Ciena Corporation [CIEN] managed to generate an average of $51,378 per employee. Receivables Turnover for the company is 4.24 with a Total Asset Turnover recorded at a value of 0.87.Ciena Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.60.
Ciena Corporation [CIEN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Ciena Corporation posted 0.6/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 -4.80%. 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 7.80%.
An analysis of insider ownership at Ciena Corporation [CIEN]
There are presently around $8,534 million, or 92.90% of CIEN stock, in the hands of institutional investors. The top three institutional holders of CIEN stocks are: BLACKROCK INC. with ownership of 15,272,529, which is approximately -0.15% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 14,519,385 shares of the stock with an approximate value of $889.89 million in CIEN stocks shares; and FMR LLC, currently with $440.48 million in CIEN stock with ownership of nearly 12.985% of the company’s market capitalization.
Positions in Ciena Corporation stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 211 institutional holders increased their position in Ciena Corporation [NYSE:CIEN] by around 8,505,177 shares. Additionally, 208 investors decreased positions by around 15,499,236 shares, while 87 investors held positions by with 115,234,357 shares. The mentioned changes placed institutional holdings at 139,238,770 shares, according to the latest SEC report filing. CIEN stock had 44 new institutional investments in for a total of 1,481,677 shares, while 45 institutional investors sold positions of 5,849,637 shares during the same period.