For its first fiscal quarter (ending January 31), Ciena Corp (NYSE: CIEN) has reported E.P.S. of $0.34 compared to $0.51 a year ago. E.P.S. were $1.55 for the latest four quarters through January 31 versus $1.23 for the same period a year ago.
Recent Price Action
Ciena Corp (NYSE: CIEN) stock closed at $52.84 on 3/7/24 after a major decline of -14.7%. Moreover, trading volume in this decline was exceptionally high at 633% of normal. The stock has declined -6.7% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
CIEN is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Ciena has a current Value Trend Rating of C (High Neutral). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Ciena has a neutral Appreciation Score of 41 but a good Power Rating of 76, with the High Neutral Value Trend Rating the result.
Rating Review
In light of this new information and highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
Be the first to comment