Ciena Corp reports results for the quarter ended in January - Earnings Summary

Ciena

07/03/2024 15:59

* Ciena Corp  CIEN.N  reported quarterly adjusted earnings
of 66
cents​​ per share for the quarter ended in January, higher than
the same quarter last year, when the company reported EPS of 64
cents.  The mean expectation of thirteen analysts for the
quarter was for earnings of 48 cents per share. Wall Street
expected results to range from 37 cents to 64 cents per share.
    * Revenue fell 1.8% to $1.04 billion from a year ago;
analysts
expected $1.02 billion. 
    * Ciena Corp's reported EPS for the quarter was 34 cents​.
    * The company reported quarterly net income of $49.55
million.
    * Ciena Corp shares had risen by 37.7% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.3%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
communications &
networking peer group is also "buy"

Wall Street's median 12-month price target for Ciena Corp is
$61.00 
This summary was machine generated from LSEG data March 7 at
03:58 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 31 2024      0.48           0.66           Beat
 Oct. 31 2023      0.69           0.75           Beat
 Jul. 31 2023      0.51           0.59           Beat
 Apr. 30 2023      0.61           0.74           Beat