Stifel Nicolaus Initiates Coverage on Ciena Corporation to Hold

Stifel Nicolaus Initiates Coverage on Ciena Corporation(NYSE:CIEN). The shares have been rated Hold. The rating by Stifel Nicolaus was issued on Sep 30, 2016.

In a different note, On Sep 2, 2016, Morgan Stanley said it Downgrades its rating on Ciena Corporation. The shares have been rated ‘Equal-weight’ by the firm. On Sep 2, 2016, Citigroup said it Maintains its rating on Ciena Corporation. In the research note, the firm Raises the price-target to $23.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 25, 2016, Citigroup said it Maintains its rating on Ciena Corporation. In the research note, the firm Raises the price-target to $21.00 per share. The shares have been rated ‘Hold’ by the firm.

Ciena Corporation (CIEN) shares turned negative on Tuesdays trading session with the shares closing down -0.11 points or -0.52% at a volume of 25,88,796. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $21.57. The peak price level was also seen at $21.57 while the days lowest was $21.03. Finally the shares closed at $21.19. The 52-week high of the shares is $25.46 while the 52-week low is $15.615. According to the latest information available, the market cap of the company is $2,953 M.

Ciena Corporation(CIEN) last announced its earnings results on Sep 1, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $670.55M. Analysts had an estimated revenue of $672.17M. Earnings per share were $0.42. Analysts had estimated an EPS of $0.38.

Several Insider Transactions has been reported to the SEC. On Sep 26, 2016, James E Jr Moylan (SVP Finance, CFO) sold 2,000 shares at $22.05 per share price.Also, On Sep 23, 2016, Andrew C Petrik (VP, CONTROLLER) sold 624 shares at $22.20 per share price.On Sep 23, 2016, Gary B Smith (PRESIDENT, CEO) sold 13,360 shares at $21.45 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.

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