In yesterday’s Wall Street session, CIENA Corp. (NYSE:CIEN) shares traded at $48.56, up 0.66% from the previous session.
CIEN stock price is now 1.94% away from the 50-day moving average and 1.47% away from the 200-day moving average. The market capitalization of the company currently stands at $7.02B.
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With the price target reduced from $59 to $54, Raymond James Downgraded its rating from Strong Buy to Outperform for CIENA Corp. (NYSE: CIEN). On May 30, 2024, Rosenblatt Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $65 to quote $52.50, while ‘Citigroup’ rates the stock as ‘Sell’
In other news, SMITH GARY B, President, CEO sold 4,166 shares of the company’s stock on Jun 03 ’24. The stock was sold for $199,927 at an average price of $47.99. Upon completion of the transaction, the President, CEO now directly owns 372,611 shares in the company, valued at $18.09 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 15 ’24, President, CEO SMITH GARY B sold 4,166 shares of the business’s stock. A total of $204,809 was realized by selling the stock at an average price of $49.16. This leaves the insider owning 376,777 shares of the company worth $18.3 million. A total of 1.43% of the company’s stock is owned by insiders.
During the past 12 months, CIENA Corp. has had a low of $39.94 and a high of $63.24. As of last week, the company has a debt-to-equity ratio of 0.55, a current ratio of 3.88, and a quick ratio of 2.76. According to the stock market information, the enterprise value for the company is $7212497920, which is based on a 46.76 price-to-earnings ratio, a 6.59 price-to-earnings-growth ratio, and a beta of 0.95. The fifty day moving average price for CIEN is $47.619 and a two-hundred day moving average price translates $47.89445 for the stock.
The latest earnings results from CIENA Corp. (NYSE: CIEN) was released for 2024-01-27. The net profit margin was 3.71% and return on equity was 5.31% for CIEN. The company reported revenue of $1.04 billion for the quarter, compared to $1.06 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.78 percent.
