Media stories about Ciena (NYSE:CIEN) have trended positive this week, AlphaOne reports. The research group, a service of Accern, identifies negative and positive press coverage by monitoring more than twenty million blog and news sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ciena earned a media sentiment score of 0.27 on AlphaOne’s scale. AlphaOne also gave headlines about the communications equipment provider an impact score of 45 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the headlines that may have impacted AlphaOne Sentiment Analysis’s scoring:
Shares of Ciena (NYSE:CIEN) traded up 1.18% on Friday, reaching $23.06. The company’s stock had a trading volume of 1,171,663 shares. Ciena has a 1-year low of $15.62 and a 1-year high of $26.84. The stock has a market capitalization of $3.26 billion, a PE ratio of 37.87 and a beta of 1.66. The stock has a 50-day moving average of $22.77 and a 200 day moving average of $23.17.
Ciena (NYSE:CIEN) last issued its earnings results on Wednesday, March 8th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $621.50 million for the quarter, compared to analyst estimates of $632.29 million. Ciena had a net margin of 2.79% and a return on equity of 23.37%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. On average, equities analysts forecast that Ciena will post $1.69 EPS for the current year.
Several equities research analysts have recently commented on the company. Bank of America Corp lowered Ciena from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $26.39 to $28.00 in a research note on Friday, March 3rd. They noted that the move was a valuation call. B. Riley reissued a “buy” rating and set a $33.75 price target on shares of Ciena in a research note on Monday, March 6th. Cowen and Company reissued an “outperform” rating and set a $35.00 price target on shares of Ciena in a research note on Monday, March 6th. Dougherty & Co reissued a “buy” rating and set a $26.00 price target on shares of Ciena in a research note on Monday, March 6th. Finally, MKM Partners reissued a “buy” rating and set a $30.00 price target on shares of Ciena in a research note on Wednesday, February 22nd. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ciena has an average rating of “Buy” and a consensus target price of $28.13.
In other Ciena news, SVP Stephen B. Alexander sold 2,500 shares of Ciena stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $25.48, for a total transaction of $63,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary B. Smith sold 8,000 shares of Ciena stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $24.16, for a total transaction of $193,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 83,936 shares of company stock valued at $1,975,642 in the last three months. Company insiders own 1.45% of the company’s stock.
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.