December 1, 2016 - By Ellis Scott · 0 Comments
Ciena Corp (NYSE:CIEN) institutional sentiment increased to 1.11 in Q2 2016. Its up 0.20, from 0.91 in 2016Q1. The ratio is positive, as 124 active investment managers increased or opened new stock positions, while 137 trimmed and sold positions in Ciena Corp. The active investment managers in our partner’s database now own: 126.21 million shares, down from 136.85 million shares in 2016Q1. Also, the number of active investment managers holding Ciena Corp in their top 10 stock positions increased from 0 to 1 for an increase of 1. Sold All: 46 Reduced: 91 Increased: 77 New Position: 47.
Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The company has a market cap of $2.95 billion. The Firm operates through four divisions: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. It has a 192.11 P/E ratio. The Company’s Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network switching and packet switching.
Ciena Corporation (NYSE:CIEN) has risen 28.98% since April 28, 2016 and is uptrending. It has outperformed by 23.06% the S&P500.
Analysts await Ciena Corporation (NYSE:CIEN) to report earnings on December, 8 before the open. They expect $0.39 EPS, up 44.44% or $0.12 from last year’s $0.27 per share. CIEN’s profit will be $53.75M for 13.63 P/E if the $0.39 EPS becomes a reality. After $0.35 actual EPS reported by Ciena Corporation for the previous quarter, Wall Street now forecasts 11.43% EPS growth.
According to Zacks Investment Research, “Ciena Corporation is the network specialist, focused on expanding the possibilities for its customers’ networks while reducing their cost of ownership. The Company’s systems, software and services target and cure specific network pain points so that telcos, cable operators, governments and enterprises can best exploit the new applications that are driving their businesses forward.”
1492 Capital Management Llc holds 4.11% of its portfolio in Ciena Corporation for 244,323 shares. Ao Asset Management Llc owns 458,700 shares or 2.25% of their US portfolio. Moreover, Broadview Advisors Llc has 1.93% invested in the company for 688,725 shares. The Missouri-based Argent Capital Management Llc has invested 1.43% in the stock. Valicenti Advisory Services Inc, a New York-based fund reported 99,815 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 53 selling transactions for $5.23 million net activity.
Ratings analysis reveals 64% of Ciena’s analysts are positive. Out of 11 Wall Street analysts rating Ciena, 7 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $17 while the high is $29.75. The stock’s average target of $24.89 is 16.47% above today’s ($21.37) share price. CIEN was included in 26 notes of analysts from August 18, 2015. As per Monday, August 29, the company rating was maintained by Deutsche Bank. Dougherty & Company maintained Ciena Corporation (NYSE:CIEN) rating on Friday, September 2. Dougherty & Company has “Buy” rating and $26 price target. Morgan Stanley initiated it with “Equal-Weight” rating and $25 target price in Friday, October 9 report. The rating was upgraded by Morgan Stanley on Tuesday, January 12 to “Overweight”. The rating was maintained by Citigroup with “Hold” on Thursday, August 25. The rating was initiated by Citigroup with “Neutral” on Wednesday, January 27. The company was initiated on Tuesday, August 18 by Northland Capital. On Friday, June 3 the stock rating was maintained by Citigroup with “Neutral”. As per Thursday, December 10, the company rating was upgraded by Northland Capital. The stock has “Hold” rating given by Deutsche Bank on Monday, September 5.
Ciena Corporation (Ciena), incorporated on November 2, 1992, is a well-known provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The Company’s packet-optical transport, packet-optical switching and carrier Ethernet service delivery products are used, individually or as part of an integrated solution, in networks operated by communications service providers, cable operators, governments and enterprises globally. The Company’s communications networking products, through their embedded software and its network management software suites, enable network operators to deliver enterprise and consumer-oriented communication services. The Firm operates in four divisions: converged packet optical, packet networking, optical transport, and software and services. The Company’s service well-known provider clients include regional, national and international, wire line and wireless carriers. The Company’s cable operator clients include cable and multiservice operators in the United States and internationally. The Company’s enterprise clients include multi-site commercial organizations, including participants in the financial, healthcare, transportation, utilities and retail industries. The Company’s government clients include federal and state agencies in the United States, as well as government entities outside of the United States.
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By Ellis Scott