In the last trading session, 1.67 million CIENA Corp (NYSE:CIEN) shares changed hands as the company’s beta touched 1.11. With the company’s per share price at $64.33 changed hands at -$1.35 or -2.06% during last session, the market valuation stood at $9.14B. CIEN’s last price was a discount, traded about -57.69% off its 52-week high of $101.44. The share price had its 52-week low at $43.30, which suggests the last value was 32.69% up since then. When we look at CIENA Corp’s average trading volume, we note the 10-day average is 3.42 million shares, with the 3-month average coming to 2.54 million.
Analysts gave the CIENA Corp (CIEN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.88. If we narrow down to specifics, the data shows that 1 out of 21 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended CIEN as a Hold, 16 felt it is a Buy and 0 rated the stock as Underweight. CIENA Corp’s EPS for the current quarter is expected to be 0.51.
CIENA Corp (NYSE:CIEN) trade information
Instantly CIEN was in red as seen at the end of in last trading. With action 0.59%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -24.15%, with the 5-day performance at 0.59% in the green. However, in the 30-day time frame, CIENA Corp (NYSE:CIEN) is -28.36% down. Looking at the short shares, we see there were 3.76 million shares sold at short interest cover period of 1.64 days.
The consensus price target for the stock as assigned by Wall Street analysts is 75, meaning bulls need an upside of 14.23% from its current market value. According to analyst projections, CIEN’s forecast low is 65 with 105 as the target high. To hit the forecast high, the stock’s price needs a -63.22% plunge from its current level, while the stock would need to soar -1.04% for it to hit the projected low.
CIENA Corp (CIEN) estimates and forecasts
Year-over-year growth is forecast to reach 10.45% up from the last financial year.
Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of 1.09B. 12 analysts are of the opinion that CIENA Corp’s revenue for the current quarter will be 1.11B. The company’s revenue for the corresponding quarters a year ago was 910.83M and 942.31M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 19.86%. The estimates for the next quarter sales put growth at 17.61%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -18.58%. The 2025 estimates are for CIENA Corp earnings to increase by 39.38%, but the outlook for the next 5-year period is at 33.64% per year.
CIEN Dividends
CIENA Corp is expected to release its next quarterly earnings report on 2025-Mar-10.
CIENA Corp (NYSE:CIEN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.00% of CIENA Corp shares while 102.37% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 103.40%. There are 102.37% institutions holding the CIENA Corp stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 14.9284% of the shares, roughly 21.56 million CIEN shares worth $1.04 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 10.7717% or 15.61 million shares worth $752.08 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were Fidelity Growth Company Fund and iShares Core S&P Midcap ETF . With 4.72 shares estimated at $303.76 million under it, the former controlled 3.32% of total outstanding shares. On the other hand, iShares Core S&P Midcap ETF held about 3.32% of the shares, roughly 4.71 shares worth around $303.21 million.
