In the most recent buying and selling session, Ciena (CIEN) closed at $43.99, marking a +1.45% tran
In the most recent buying and selling session, Ciena (CIEN) closed at $43.99, marking a +1.45% transfer from the day gone by. This transfer lagged the S&P 500’s each day acquire of 1.62%. In the meantime, the Dow gained 1.54%, and the Nasdaq, a tech-heavy index, added 1.31%.
Previous to in the present day’s buying and selling, shares of the developer of high-speed networking expertise had gained 6.88% over the previous month. This has outpaced the Laptop and Expertise sector’s acquire of two.55% and the S&P 500’s acquire of three.4% in that point.
Wall Avenue can be searching for positivity from CIEN because it approaches its subsequent earnings report date. That is anticipated to be December 10, 2020. The corporate is anticipated to report EPS of $0.63, up 8.62% from the prior-year quarter. In the meantime, our newest consensus estimate is asking for income of $828.61 million, down 14.4% from the prior-year quarter.
Traders may additionally discover latest adjustments to analyst estimates for CIEN. These revisions assist to indicate the ever-changing nature of near-term enterprise traits. As such, optimistic estimate revisions replicate analyst optimism concerning the firm’s enterprise and profitability.
Analysis signifies that these estimate revisions are instantly correlated with near-term share worth momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate adjustments into consideration and delivers a transparent, actionable score mannequin.
Starting from #1 (Robust Purchase) to #5 (Robust Promote), the Zacks Rank system has a confirmed, outside-audited monitor report of outperformance, with #1 shares returning a median of +25% yearly since 1988. Inside the previous 30 days, our consensus EPS projection remained stagnant. CIEN at present has a Zacks Rank of #4 (Promote).
Traders must also word CIEN’s present valuation metrics, together with its Ahead P/E ratio of 16.19. Its trade sports activities a median Ahead P/E of 16.19, so we one would possibly conclude that CIEN is buying and selling at a no noticeable deviation comparatively.
Traders must also word that CIEN has a PEG ratio of 1.01 proper now. This metric is used equally to the well-known P/E ratio, however the PEG ratio additionally takes into consideration the inventory’s anticipated earnings development price. The Fiber Optics was holding a median PEG ratio of 1.01 at yesterday’s closing worth.
The Fiber Optics trade is a part of the Laptop and Expertise sector. This trade at present has a Zacks Trade Rank of 249, which places it within the backside 2% of all 250+ industries.
The Zacks Trade Rank gauges the energy of our particular person trade teams by measuring the common Zacks Rank of the person shares throughout the teams. Our analysis exhibits that the highest 50% rated industries outperform the underside half by an element of two to 1.
Be certain to make the most of Zacks. Com to observe all of those stock-moving metrics, and extra, within the coming buying and selling periods.
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Ciena Company (CIEN): Free Inventory Evaluation Report
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