Ciena Corp. earnings for third quarter fell short of the Street expectations, and also dipped from a year ago.
The networking systems and software company's earnings for the quarter came in at $0.07 per share vs. $1.52 per share in the year-ago quarter. Excluding items, Ciena’s adjusted earnings of $0.33 per share was shy of analysts’ expectations of $0.34 per share (according to figures compiled by Thomson Reuters).
Revenue for the quarter decreased -12.2% from the year-ago quarter to $867.98 million.
The Aroon Indicator for CIEN entered a downward trend on May 18, 2023. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 154 similar instances where the Aroon Indicator formed such a pattern. In of the 154 cases the stock moved lower. This puts the odds of a downward move at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 60 cases where CIEN's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
CIEN moved below its 50-day moving average on May 31, 2023 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CIEN declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
CIEN broke above its upper Bollinger Band on May 26, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where CIEN's RSI Oscillator exited the oversold zone, of 26 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on May 17, 2023. You may want to consider a long position or call options on CIEN as a result. In of 82 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for CIEN just turned positive on May 15, 2023. Looking at past instances where CIEN's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CIEN advanced for three days, in of 332 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock slightly better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. CIEN’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.472) is normal, around the industry mean (8.932). P/E Ratio (38.610) is within average values for comparable stocks, (57.219). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.139). CIEN has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.043). P/S Ratio (1.843) is also within normal values, averaging (21.994).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of communication network equipment, associated software and professional services
Industry TelecommunicationsEquipment
A.I.dvisor indicates that over the last year, CIEN has been loosely correlated with LITE. These tickers have moved in lockstep 63% of the time. This A.I.-generated data suggests there is some statistical probability that if CIEN jumps, then LITE could also see price increases.
Ticker / NAME | Correlation To CIEN | 1D Price Change % | ||
---|---|---|---|---|
CIEN | 100% | +0.62% | ||
LITE - CIEN | 63% Loosely correlated | -1.29% | ||
JNPR - CIEN | 62% Loosely correlated | +0.59% | ||
INFN - CIEN | 59% Loosely correlated | -2.24% | ||
HPE - CIEN | 58% Loosely correlated | +1.73% | ||
ADTN - CIEN | 56% Loosely correlated | -2.13% | ||
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