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Ciena (CIEN) Outpaces Stock Market Gains: What You Should Know
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Ciena (CIEN - Free Report) closed at $46.89 in the latest trading session, marking a +0.67% move from the prior day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Heading into today, shares of the developer of high-speed networking technology had lost 5.13% over the past month, lagging the Computer and Technology sector's gain of 2.75% and the S&P 500's gain of 4.59% in that time.
Investors will be hoping for strength from Ciena as it approaches its next earnings release. The company is expected to report EPS of $0.60, up 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, up 13.76% from the prior-year quarter.
CIEN's full-year Zacks Consensus Estimates are calling for earnings of $2.84 per share and revenue of $4.41 billion. These results would represent year-over-year changes of +49.47% and +21.27%, respectively.
It is also important to note the recent changes to analyst estimates for Ciena. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ciena is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Ciena currently has a Forward P/E ratio of 16.38. This represents a no noticeable deviation compared to its industry's average Forward P/E of 16.38.
Investors should also note that CIEN has a PEG ratio of 1.09 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Fiber Optics stocks are, on average, holding a PEG ratio of 1.09 based on yesterday's closing prices.
The Fiber Optics industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 4, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ciena (CIEN) Outpaces Stock Market Gains: What You Should Know
Ciena (CIEN - Free Report) closed at $46.89 in the latest trading session, marking a +0.67% move from the prior day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Heading into today, shares of the developer of high-speed networking technology had lost 5.13% over the past month, lagging the Computer and Technology sector's gain of 2.75% and the S&P 500's gain of 4.59% in that time.
Investors will be hoping for strength from Ciena as it approaches its next earnings release. The company is expected to report EPS of $0.60, up 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, up 13.76% from the prior-year quarter.
CIEN's full-year Zacks Consensus Estimates are calling for earnings of $2.84 per share and revenue of $4.41 billion. These results would represent year-over-year changes of +49.47% and +21.27%, respectively.
It is also important to note the recent changes to analyst estimates for Ciena. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ciena is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Ciena currently has a Forward P/E ratio of 16.38. This represents a no noticeable deviation compared to its industry's average Forward P/E of 16.38.
Investors should also note that CIEN has a PEG ratio of 1.09 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Fiber Optics stocks are, on average, holding a PEG ratio of 1.09 based on yesterday's closing prices.
The Fiber Optics industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 4, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.