MKM Partners Reduces Estimates on CIENA (CIEN); Oct. Guidance Even Weaker, But 2013 Should Be Favorable
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Price: $428.77 -3.17%
Rating Summary:
25 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
25 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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MKM Partners maintains a 'Buy' on CIENA (NASDAQ: CIEN) price target of $18.00.
Analyst, Michael Genovese, said, "3QFY12 revenues/EPS of $474mn/($0.04) came in exactly in line with our estimates. Book-to-bill was near 1.0, which is solid seasonal performance. There were no 10% or greater customers in the quarter, which points to increasing customer diversity, but also highlights the unusual weakness in AT&T (NYSE: T) optical spending. The October quarter revenue guidance represents slightly over a 1% sequential decline, which is very much in line with 3QCY12 revenue guidance from telecom equipment peers such as Juniper (Nasdaq: JNPR), Tellabs (Nasdaq: TLAB) and Adtran (Nasdaq: ADTN)."
FY12 EPS estimate lowered from (0.10) to (0.24) and FY13 from $0.64 to $0.36.
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.
Analyst, Michael Genovese, said, "3QFY12 revenues/EPS of $474mn/($0.04) came in exactly in line with our estimates. Book-to-bill was near 1.0, which is solid seasonal performance. There were no 10% or greater customers in the quarter, which points to increasing customer diversity, but also highlights the unusual weakness in AT&T (NYSE: T) optical spending. The October quarter revenue guidance represents slightly over a 1% sequential decline, which is very much in line with 3QCY12 revenue guidance from telecom equipment peers such as Juniper (Nasdaq: JNPR), Tellabs (Nasdaq: TLAB) and Adtran (Nasdaq: ADTN)."
FY12 EPS estimate lowered from (0.10) to (0.24) and FY13 from $0.64 to $0.36.
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.
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