Ciena's Priced for Perfection, and Earnings Come Pretty Close

Ciena(CIEN Quote) -- up 243% this year even after a recent pullback -- continued to earn its wonder stock status Thursday, posting earnings that topped expectations and showing that the new clients keep rolling in.

The Ciena File

Operations

Business: Makes optical networking switching components

2000 Revenue: $858.8 million

2000 Earnings Per Share: 33 cents

2001 Estimated Earnings Growth: 103%

Stock Snapshot

52 Week Range: $22.7 - 151

Percentage Change from Jan. 1: 243%

Market Cap: $26.7 billion

P/E Ratio: 477

Shares Outstanding: 284 million

Now the question is: Is the company worth a trailing price-to-earnings ratio of 477? We'll take a look in today's Stock in the Spotlight. ...