Why Ciena Corporation Shares Sank Today
Shares of Ciena Corporation (NYSE: CIEN) sank today, down by 9% as of 1:45 p.m. EDT, after the networking specialist reported fiscal third-quarter earnings. While the results beat expectations, investors were likely disappointed with revenue outlook for the coming quarter.
Revenue in the third quarter totaled $728.7 million, up 9% year over year and ahead of the $726.9 million that the Street was expecting. The company posted non-GAAP earnings per share of $0.51, also topping the consensus estimate of $0.49 per share in adjusted profits.
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Source: Fool.com
Ciena Corp. Stock
€44.38
0.070%
We see a rather positive sentiment for Ciena Corp. with 15 Buy predictions and 1 Sell predictions.
As a result the target price of 55 € shows a positive potential of 23.93% compared to the current price of 44.38 € for Ciena Corp..
