Ciena Corporation (CIEN) Releases Earnings Results, Beats Expectations By $0.04 EPS

Ciena Corporation (CIEN) reported quarterly earnings results on Thursday, Sep-1-2016. The company said it had a profit of $0.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.38. The company posted revenue of $670.60 million in the period, compared to analysts expectations of $672.23 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Ciena Corporation. Company shares were Reiterated by Deutsche Bank on Aug 29, 2016 to “Hold”, Firm has raised the Price Target to $ 18.50 from a previous price target of $17 .Company shares were Reiterated by MKM Partners on Jun 6, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .

Ciena Corporation opened for trading at $21.67 and hit $21.73 on the upside on Monday, eventually ending the session at $21.67, with a gain of 0.14% or 0.03 points. The heightened volatility saw the trading volume jump to 19,57,939 shares. Company has a market cap of $2,993 M.

In a different news, on Aug 23, 2016, Judith M Obrien (director) sold 5,000 shares at $21.55 per share price. According to the SEC, on Aug 18, 2016, Francois Locoh-donou (Chief Operating Officer) sold 10,424 shares at $22.00 per share price. On Aug 16, 2016, David M Rothenstein (Sr. VP, General Counsel) sold 2,000 shares at $20.84 per share price, according to the Form-4 filing with the securities and exchange commission.

Ciena Corporation (Ciena) is a provider of communications networking equipment software and services that support the transport switching aggregation and management of voice video and data traffic. The Company operates in four segments: converged packet optical packet networking optical transport and software and services. Its service provider customers include regional national and international wire line and wireless carriers. Its cable operator customers include cable and multiservice operators in the United States and internationally. Its Blue Planet Division provides multi-vendor network management software and service orchestration solutions. Its Blue Planet product portfolio includes software applications including Planet Orchestrate and Planet Operate as well as its software-defined networking (SDN) multilayer wide area network (WAN) controller and its applications V-WAN Agility Matrix and network management solutions.

Ciena Corporation

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