Ciena Corporation (CIEN): Today's Featured Telecommunications Laggard
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
(
) pushed the Telecommunications industry lower today making it today's featured Telecommunications laggard. The industry as a whole closed the day down 0.2%. By the end of trading, Ciena Corporation fell $0.48 (-1.9%) to $24.80 on average volume. Throughout the day, 3,405,696 shares of Ciena Corporation exchanged hands as compared to its average daily volume of 3,433,700 shares. The stock ranged in price between $24.47-$25.17 after having opened the day at $24.76 as compared to the previous trading day's close of $25.28. Other companies within the Telecommunications industry that declined today were:
(
), down 13.8%,
(
), down 10.1%,
(
TheStreet Recommends
), down 9.6% and
(
), down 8.8%.
Ciena Corporation provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic worldwide. Ciena Corporation has a market cap of $2.7 billion and is part of the technology sector. Shares are up 64.2% year to date as of the close of trading on Friday. Currently there are 12 analysts that rate Ciena Corporation a buy, no analysts rate it a sell, and 5 rate it a hold.
TheStreet Ratings rates
Ciena Corporation
as a
. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share and increase in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall.
- You can view the full Ciena Corporation Ratings Report.
On the positive front,
(
), up 14.0%,
(
), up 8.7%,
(
), up 6.7% and
United States Cellular Corporation
(
), up 5.7% , were all gainers within the telecommunications industry with
(
) being today's featured telecommunications industry leader.
- Use our telecommunications section to find industry-relevant news.
- Or find some new ideas from our top rated stocks lists.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the telecommunications industry could consider
(
) while those bearish on the telecommunications industry could consider
ProShares Ult Sht Telecommunication
(
).
- Find other investment ideas from our top rated ETFs lists.
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