Why Ciena Corporation (NYSE:CIEN) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $24.72 on Ciena Corporation (NYSE:CIEN) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.40 for the next fiscal and $N/A for underway quarter. Valuation Estimates Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Ciena Corporation (NYSE:CIEN) stands at 205.27. Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Ciena Corporation Common Stock, the PEG ratio for coming 3-5 years is 0.82. Technical Analysis The technical analysis highlights that Ciena Corporation Common Stock current price is trading $-0.16 points away -0.84% from $19.25, which stands as the 50-day moving average of the firm. The stock’s 200-day MA is $18.42 and, for now, the stock price is trading $0.67 or +3.65% away from that point. The 52-week high of Ciena Corporation (NYSE:CIEN) was $26.50 while lowest point recorded in 52-week was $15.62. It implies if stock price makes a movement of over $-7.41, it will record a new 52-week high. In the case of $+22.22% points drop, it will touch a new 52-week low.

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