Ciena Co. (NYSE:CIEN – Get Free Report) SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.24, for a total value of $196,840.00. Following the transaction, the senior vice president now directly owns 205,421 shares in the company, valued at approximately $11,552,877.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ciena Price Performance
Shares of NYSE CIEN opened at $56.41 on Thursday. The business has a fifty day moving average price of $52.07 and a two-hundred day moving average price of $49.77. The stock has a market capitalization of $8.11 billion, a PE ratio of 54.24, a P/E/G ratio of 6.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.06 and a quick ratio of 2.99. Ciena Co. has a fifty-two week low of $39.94 and a fifty-two week high of $63.24.
Ciena (NYSE:CIEN – Get Free Report) last posted its quarterly earnings results on Wednesday, September 4th. The communications equipment provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.09. The business had revenue of $942.30 million during the quarter, compared to the consensus estimate of $928.31 million. Ciena had a return on equity of 5.98% and a net margin of 3.44%. Ciena’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. As a group, equities analysts predict that Ciena Co. will post 1.15 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on Ciena
Institutional Trading of Ciena
A number of institutional investors and hedge funds have recently made changes to their positions in CIEN. Kapitalo Investimentos Ltda acquired a new stake in shares of Ciena in the 4th quarter valued at $30,000. Register Financial Advisors LLC bought a new stake in shares of Ciena during the 1st quarter worth $33,000. Headlands Technologies LLC acquired a new stake in Ciena in the first quarter valued at about $40,000. Canton Hathaway LLC bought a new position in Ciena in the second quarter valued at about $40,000. Finally, Covestor Ltd grew its position in Ciena by 339.5% in the first quarter. Covestor Ltd now owns 1,213 shares of the communications equipment provider’s stock valued at $60,000 after acquiring an additional 937 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.
Ciena Company Profile
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, optical transport network switching, IP routing, and switching services.
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