Needham & Company Chops Estimates on CIENA (CIEN); Weak Quarter, Weak Guidance
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Price: $16.35 +2.00%
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
14 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CIEN Now!
Needham & Company maintains a 'Buy' on CIENA (NASDAQ: CIEN) price target of $19.00.
Analyst, Alex Henderson, said, "Over the last quarter we have been pretty clear about our concerns on 2H economic conditions and the risk to spending at both enterprise and service providers. Even with the disappointing results at Ciena, we still consider the coherent upgrade cycle as the most robust end market in telecom equipment. Yet even here at the best house on the block, the weakening conditions and concerns about the economy are resulting in slowing spending and project slowdowns."
Next qtr EPS lowered from $0.12 to (0.06), FY12 lowered from $0.00 to (0.23), FY13 from $0.70 to $0.46.
For an analyst ratings summary and ratings history on CIENA click here. For more ratings news on CIENA click here.
Shares of CIENA closed at $13.46 yesterday, with a 52 week range of $9.89-$18.39.
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Analyst, Alex Henderson, said, "Over the last quarter we have been pretty clear about our concerns on 2H economic conditions and the risk to spending at both enterprise and service providers. Even with the disappointing results at Ciena, we still consider the coherent upgrade cycle as the most robust end market in telecom equipment. Yet even here at the best house on the block, the weakening conditions and concerns about the economy are resulting in slowing spending and project slowdowns."
Next qtr EPS lowered from $0.12 to (0.06), FY12 lowered from $0.00 to (0.23), FY13 from $0.70 to $0.46.
For an analyst ratings summary and ratings history on CIENA click here. For more ratings news on CIENA click here.
Shares of CIENA closed at $13.46 yesterday, with a 52 week range of $9.89-$18.39.
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