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

• Ciena Corp CIEN.N reported quarterly adjusted earnings of 64 cents​​ per share for the quarter ended January 31, lower than the same quarter last year, when the company reported EPS of 66 cents. The mean expectation of fourteen analysts for the quarter was for earnings of 41 cents per share. Wall Street expected results to range from 31 cents to 49 cents per share.

• Revenue rose 3.3% to $1.07 billion from a year ago; analysts expected $1.05 billion.

• Ciena Corp's reported EPS for the quarter was 31 cents​.

• The company reported quarterly net income of $44.57 million.

• Ciena Corp shares had fallen by 22.7% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 16.3% 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 10 "strong buy" or "buy," 6 "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 $91.00

This summary was machine generated from LSEG data March 11 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)