Andrew C. Petrik Sells 1,000 Shares of Ciena Co. (NYSE:CIEN) Stock

Ciena Co. (NYSE:CIEN – Get Rating) VP Andrew C. Petrik sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $50.89, for a total transaction of $50,890.00. Following the transaction, the vice president now directly owns 32,558 shares of the company’s stock, valued at approximately $1,656,876.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ciena Stock Performance

CIEN opened at $50.14 on Friday. The firm has a market capitalization of $7.44 billion, a PE ratio of 50.14, a PEG ratio of 1.67 and a beta of 0.93. Ciena Co. has a twelve month low of $38.33 and a twelve month high of $71.06. The firm’s 50-day moving average price is $48.02 and its 200 day moving average price is $47.04. The company has a current ratio of 3.25, a quick ratio of 2.34 and a debt-to-equity ratio of 0.39.

Ciena (NYSE:CIEN – Get Rating) last posted its earnings results on Thursday, December 8th. The communications equipment provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.53. The company had revenue of $971.00 million for the quarter, compared to analyst estimates of $847.83 million. Ciena had a net margin of 4.21% and a return on equity of 7.57%. Ciena’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. As a group, sell-side analysts expect that Ciena Co. will post 2.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CIEN. Citigroup lifted their price objective on shares of Ciena from $55.00 to $65.00 in a report on Friday, December 9th. Evercore ISI lifted their price objective on shares of Ciena to $55.00 in a report on Monday, December 12th. StockNews.com initiated coverage on shares of Ciena in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Northland Securities lifted their target price on shares of Ciena from $40.00 to $45.00 in a research report on Friday, December 9th. Finally, Cowen lifted their target price on shares of Ciena from $71.00 to $76.00 in a research report on Friday, December 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ciena currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.06.

Hedge Funds Weigh In On Ciena

Institutional investors and hedge funds have recently bought and sold shares of the company. Ronald Blue Trust Inc. boosted its holdings in Ciena by 165.2% in the 4th quarter. Ronald Blue Trust Inc. now owns 663 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 413 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Ciena in the 2nd quarter valued at about $32,000. Eagle Bay Advisors LLC boosted its holdings in Ciena by 98.3% in the 2nd quarter. Eagle Bay Advisors LLC now owns 817 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 405 shares during the last quarter. Private Trust Co. NA boosted its holdings in Ciena by 115.1% in the 3rd quarter. Private Trust Co. NA now owns 884 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 473 shares during the last quarter. Finally, Standard Family Office LLC purchased a new stake in shares of Ciena in the 3rd quarter valued at approximately $37,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Ciena Company Profile

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Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, IP routing, and switching services.