Ciena Corp (NYSE: CIEN) has reported earnings for its third fiscal quarter (ending July 31) of $0.10 versus $0.20 for the same period a year ago — a decline of -50%. This result fell short of the consensus estimate of $0.26 by $-0.16. For the latest four quarters through July 31, E.P.S. were $0.94 versus $1.48 for the same period a year ago — a decline of -36%.
Recent Price Action
Ciena Corp (NYSE: CIEN) stock declined slightly by -0.8% on 9/4/24. The stock closed at $54.93. Moreover, this decline was accompanied by exceptionally high trading volume at 339% of normal. The stock has performed in line with the market over the last nine months and has declined -3.3% during the last week.
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 (Low Neutral). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Ciena has a neutral Appreciation Score of 44 and a neutral Power Rating of 43, producing the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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