Ciena Corporation (NYSE:CIEN) has a beta value of 0.89 and has seen 1,815,926 shares traded in the last trading session. The company, currently valued at $6.42 Billion, closed the last trade at $41.62 per share which meant it lost -$0.95 on the day or -2.23% during that session. The CIEN stock price is -47.81% off its 52-week high price of $61.52 and 26.53% above the 52-week low of $30.58. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.25 Million shares traded. The 3-month trading volume is 2.3 Million shares.
The consensus among analysts is that Ciena Corporation (CIEN) is a Buy stock at the moment, with a recommendation rating of 1.9. None of the analysts rate the stock as a Sell, while 1 rate it as Overweight. 4 out of 19 have rated it as a Hold, with 14 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.63.
Ciena Corporation (NYSE:CIEN) trade information
Despite being -2.23% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Sep 15 when the CIEN stock price touched $43.28- or saw a rise of 3.84%. Year-to-date, Ciena Corporation shares have moved -2.51%, while the 5-day performance has seen it change -1.09%. Over the past 30 days, the shares of Ciena Corporation (NYSE:CIEN) have changed -30.33%. Short interest in the company has seen 2.93 Million shares shorted with days to cover at 1.27.
Wall Street analysts have a consensus price target for the stock at $53.72, which means that the shares’ value could jump 29.07% from current levels. The projected low price target is $42 while the price target rests at a high of $63. In that case, then, we find that the current price level is +51.37% off the targeted high while a plunge would see the stock lose 0.91% from current levels.
Ciena Corporation (CIEN) estimates and forecasts
Figures show that Ciena Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained +6.09% over the past 6 months, with this year growth rate of 41.23%, compared to 43.2% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 8.6% and -3.8% for the next quarter. Revenue growth from the last financial year stood is estimated to be -1.2%.
16 analysts offering their estimates for the company have set an average revenue estimate of $826.28 Million for the current quarter. 16 have an estimated revenue figure of $773.33 Million for the next quarter concluding in January 01, 2021. Year-ago sales stood $967.99 Million for this quarter, and analysts expect sales will grow by -14.6% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +44% over the past 5 years. Earnings growth for 2020 is a modest +80.4% while over the next 5 years, the company’s earnings are expected to increase by 8.9%.