Wall Street analysts expect Ciena (CIEN) to post quarterly earnings of $0.52 per share in its upcoming report, which indicates a year-over-year increase of 48.6%. Revenues are expected to be $1.17 billion, up 24.4% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Ciena metrics that are commonly tracked and forecasted by Wall Street analysts.
It is projected by analysts that the 'Revenue- Total Networking Platforms' will reach $895.05 million. The estimate suggests a change of +28% year over year.
Analysts forecast 'Revenue- Total Global Services' to reach $151.98 million. The estimate indicates a change of +13.6% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Software and Services- Total (Platform+Blue Planet Automation)' at $126.04 million. The estimate points to a change of +15.6% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Networking Platforms- Routing and Switching' will reach $100.57 million. The estimate indicates a change of +8.5% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Networking Platforms- Optical Networking' should come in at $793.30 million. The estimate indicates a year-over-year change of +30.7%.
The consensus estimate for 'Revenue- Products' stands at $938.51 million. The estimate points to a change of +28.7% from the year-ago quarter.
Analysts predict that the 'Revenue- Blue Planet Automation Software and Services' will reach $34.49 million. The estimate points to a change of +33.7% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenue- Platform Software and Services' of $93.94 million. The estimate points to a change of +12.9% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenue- Services' will likely reach $238.91 million. The estimate suggests a change of +12.3% year over year.
Analysts expect 'Gross profit- Products' to come in at $371.31 million. The estimate compares to the year-ago value of $295.97 million.
Analysts' assessment points toward 'Gross profit- Services' reaching $112.15 million. Compared to the current estimate, the company reported $107.98 million in the same quarter of the previous year.
View all Key Company Metrics for Ciena here>>>
Over the past month, shares of Ciena have returned +5.4% versus the Zacks S&P 500 composite's +1.9% change. Currently, CIEN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Ciena Corporation (CIEN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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