On the basis of generally accepted accounting principles (GAAP), Ciena’s net income for the fiscal third quarter 2016 was $33.5 million, or $0.23 per diluted common share, which compares to a GAAP net income of $23.6 million, or $0.19 per diluted common share, for the fiscal third quarter 2015. Moylan James E Jr offloaded 2,000 shares in the company at a per-share price of $21.79 and ended up generating $43,580 in proceeds. The 50 day moving average of NYSE:CIEN is 20.67 and the 200 day moving average is 18.95. The shares were sold at an average price of $20.95, for a total value of $41,900.00.
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Ciena Corporation (NYSE:CIEN) has risen 24.13% since January 28, 2016 and is uptrending. The most expectant earnings per share estimate of the stock is set at $1.53 while the conservative estimates kept at $1.33 over the current year. LS Investment Advisors LLC now owns 7,664 shares of the company’s stock worth $144,000 after buying an additional 3,159 shares during the last quarter. In the last month the stock has moved in price 4.69%, with a one year change of 26.05%.
A number of large investors have modified their holdings of CIEN. The EPS consensus range is $0.8-$1.03 on revenue between $1.72B and $1.8B. For the prior quarter revenue for the stock hit $573.11M, with EPS at $0.18. Prudential Financial Inc. raised its position in shares of Ciena Corp.by 25.9% in the first quarter.
In other Ciena Corp. news, SVP Stephen B. Alexander sold 2,280 shares of Ciena Corp. stock in a transaction that occurred on Tuesday, June 21st. 4 analysts have rated the company as a strong “Hold”. The disclosure for this sale can be found here. Morgan Stanley reissued a “buy” rating and issued a $23.00 target price on shares of Ciena Corp.in a report on Tuesday, May 31st. Citigroup Inc. increased their price objective on Ciena Corp. from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, August 25th. BMO Capital Markets reissued a “buy” rating on shares of Ciena Corp.in a report on Wednesday, June 1st.
The valuation of Ciena Corporation Common Stock is done by analysts by using price-to-earnings ratio.
United States of America based company, Ciena Corporation’s (CIEN)’s latest closing price was 10.50% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at 6.79% and 1.73% compared with the 20 Day Moving Average.
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Separately, TheStreet Ratings team rates the stock as a “hold” with a ratings score of C. “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”.
