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Ciena (CIEN) Outpaces Stock Market Gains: What You Should Know
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Ciena (CIEN - Free Report) closed the most recent trading day at $54.95, moving +0.79% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.24%.
Heading into today, shares of the developer of high-speed networking technology had gained 0.81% over the past month, lagging the Computer and Technology sector's gain of 7.08% and the S&P 500's gain of 5.34% in that time.
Wall Street will be looking for positivity from CIEN as it approaches its next earnings report date. In that report, analysts expect CIEN to post earnings of $0.83 per share. This would mark year-over-year growth of 16.9%. Our most recent consensus estimate is calling for quarterly revenue of $969.81 million, up 0.96% from the year-ago period.
CIEN's full-year Zacks Consensus Estimates are calling for earnings of $2.91 per share and revenue of $3.69 billion. These results would represent year-over-year changes of +37.91% and +3.36%, respectively.
Investors might also notice recent changes to analyst estimates for CIEN. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. CIEN is currently a Zacks Rank #3 (Hold).
In terms of valuation, CIEN is currently trading at a Forward P/E ratio of 18.71. Its industry sports an average Forward P/E of 18.71, so we one might conclude that CIEN is trading at a no noticeable deviation comparatively.
Meanwhile, CIEN's PEG ratio is currently 1.17. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Fiber Optics industry currently had an average PEG ratio of 1.17 as of yesterday's close.
The Fiber Optics industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ciena (CIEN) Outpaces Stock Market Gains: What You Should Know
Ciena (CIEN - Free Report) closed the most recent trading day at $54.95, moving +0.79% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.24%.
Heading into today, shares of the developer of high-speed networking technology had gained 0.81% over the past month, lagging the Computer and Technology sector's gain of 7.08% and the S&P 500's gain of 5.34% in that time.
Wall Street will be looking for positivity from CIEN as it approaches its next earnings report date. In that report, analysts expect CIEN to post earnings of $0.83 per share. This would mark year-over-year growth of 16.9%. Our most recent consensus estimate is calling for quarterly revenue of $969.81 million, up 0.96% from the year-ago period.
CIEN's full-year Zacks Consensus Estimates are calling for earnings of $2.91 per share and revenue of $3.69 billion. These results would represent year-over-year changes of +37.91% and +3.36%, respectively.
Investors might also notice recent changes to analyst estimates for CIEN. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. CIEN is currently a Zacks Rank #3 (Hold).
In terms of valuation, CIEN is currently trading at a Forward P/E ratio of 18.71. Its industry sports an average Forward P/E of 18.71, so we one might conclude that CIEN is trading at a no noticeable deviation comparatively.
Meanwhile, CIEN's PEG ratio is currently 1.17. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Fiber Optics industry currently had an average PEG ratio of 1.17 as of yesterday's close.
The Fiber Optics industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.