Ciena Corporation (NYSE:CIEN) will release its fourth-quarter financial results, before the opening bell, on Thursday, Dec. 12.
Analysts expect the Hanover, Maryland-based retailer to report quarterly earnings at 65 cents per share, down from 75 cents per share in the year-ago period. Ciena projects quarterly revenue of $1.1 billion, compared to $1.13 billion a year earlier, according to data from Benzinga Pro.
On Tuesday, Stifel analyst Ruben Roy reiterated Ciena with a Buy and raised the price target from $75 to $82.
Ciena shares gained 3.3% to close at $73.21 on Wednesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.
- Stifel analyst Ruben Roy reiterated the stock with a Buy rating and raised the price target from $75 to $82 on Dec. 10. This analyst has an accuracy rate of 85%.
- Citigroup analyst Jim Suva maintained a Buy rating and boosted the price target from $68 to $84 on Dec. 5. This analyst has an accuracy rate of 69%.
- Rosenblatt analyst Mike Genovese maintained a Neutral rating and boosted the price target from $60 to $75 on Dec. 5. This analyst has an accuracy rate of 77%.
- Morgan Stanley analyst Meta Marshall downgraded the stock from Overweight to Equal-Weight with a price target of $63 on Oct. 28. This analyst has an accuracy rate of 74%.
- Evercore ISI Group analyst Amit Daryanani downgraded the stock from Outperform to In-Line with a price target of $65 on Oct. 15. This analyst has an accuracy rate of 77%.
Considering buying CIEN stock? Here's what analysts think:
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