Ciena Corp reports results for the quarter ended in July 31 - Earnings Summary

Ciena

04/09/2024 14:32

* Ciena Corp  CIEN.N  reported quarterly adjusted earnings
of 35
cents​​ per share for the quarter ended July 31, lower than the
same quarter last year, when the company reported EPS of 59
cents.  The mean expectation of fourteen analysts for the
quarter was for earnings of 26 cents per share. Wall Street
expected results to range from 20 cents to 36 cents per share.
    * Revenue fell 11.8% to $942.31 million from a year ago;
analysts
expected $928.06 million. 
    * Ciena Corp's reported EPS for the quarter was 10 cents​.
    * The company reported quarterly net income of $14.23
million.
    * Ciena Corp shares had risen by 14.9% this quarter and
gained 23.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 50.7%
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 12 "strong buy" or "buy," 4
"hold" and 1 "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
55.00 
This summary was machine generated from LSEG data September 4 at
01:31 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
 Jul. 31 2024      0.26           0.35           Beat
 Apr. 30 2024      0.15           0.27           Beat
 Jan. 31 2024      0.48           0.66           Beat
 Oct. 31 2023      0.69           0.75           Beat