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CIEN
While CIEN has been climbing nicely of late, their earnings are
out Dec. 10th, and I'm leery of the buy and sell calls strategy
this time around. They're expected to show a 14% decline in revs,
and
analysts are expecting .58 in earnings vs. .63 a year ago. So,
I'm on the sidelines, wishing I had bought more at $38, but hoping
they'll continue, in the long run, to appreciate back to where I
bought my last shares in the $50's. Average analyst PT is $54.
Let's hope there not optimistic enough. Their sales/service model
seems to be built around in-person site visits, so the pandemic is
quite bad news for them. Good that we seem to be heading towards
some kind of normalcy before too long.
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Shares of Ciena Corp. CIEN, -4.52% are off about 7%
in premarket trading Thursday after the networking company reported
a lower fiscal fourth-quarter profit than anticipated. The company
reported net income of $65 million, or 42 cents a share, down from
$80.3 million, or 51 cents a share, in the year-earlier quarter. On
an adjusted basis, Ciena posted earnings per share of 60 cents, up
from 58 cents a year prior. Ciena generated $828.5 million in
fiscal fourth-quarter revenue, a decrease from $968 million in the
year-earlier period. Analysts surveyed by FactSet were expecting 63
cents in adjusted EPS and $825.3 million in revenue. "While we
expect current market conditions to persist in the near-term, we
are confident in strong secular demand dynamics and our ability to
continue to outperform the market." Chief Executive Gary Smith said
in a release. Ciena also announced that after it suspended share
repurchases during fiscal 2020, the company will reinstitute its
buyback program during the first quarter of 2021, with a target for
about $150 million in repurchases during the fiscal year. Shares of
Ciena are up roughly 11% so far this year as the S&P
500 SPX, -0.10% has gained
14%.
marketwatch.com/st...-12-10
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Author:
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breinejm
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Subject:
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Earnings
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Sentiment:
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Neutral
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Date:
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12/10/20 at 8:54 AM CST
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Shares of Ciena Corp. CIEN, -4.52% are off about 7%
in premarket trading Thursday after the networking company reported
a lower fiscal fourth-quarter profit than anticipated. The company
reported net income of $65 million, or 42 cents a share, down from
$80.3 million, or 51 cents a share, in the year-earlier quarter. On
an adjusted basis, Ciena posted earnings per share of 60 cents, up
from 58 cents a year prior. Ciena generated $828.5 million in
fiscal fourth-quarter revenue, a decrease from $968 million in the
year-earlier period. Analysts surveyed by FactSet were expecting 63
cents in adjusted EPS and $825.3 million in revenue. "While we
expect current market conditions to persist in the near-term, we
are confident in strong secular demand dynamics and our ability to
continue to outperform the market." Chief Executive Gary Smith said
in a release. Ciena also announced that after it suspended share
repurchases during fiscal 2020, the company will reinstitute its
buyback program during the first quarter of 2021, with a target for
about $150 million in repurchases during the fiscal year. Shares of
Ciena are up roughly 11% so far this year as the S&P
500 SPX, -0.10% has gained
14%.
marketwatch.com/st...-12-10
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Author:
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breinejm
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Subject:
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Earnings
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Sentiment:
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Neutral
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Date:
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12/10/20 at 8:55 AM CST
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I am flummoxed by CIEN's rise from 38 to 52, while the company
continues to report meh CC's with poor guidance, and
self-admittedly won't see much to be optimistic about until
at least 2h 2021. Their in-person sales/service model is
anathema to Covid. Any insights?
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Author:
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Jam
ok
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Subject:
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Earnings
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Sentiment:
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Neutral
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Date:
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12/23/20 at 2:48 PM CST
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