Ciena (CIEN) Stock Is Gaining Today Despite Surprise Loss

NEW YORK (TheStreet) -- Shares of Ciena (CIEN) were gaining 9.5% to $18.57 Thursday despite the wireless network equipment maker's unexpected loss in the fiscal fourth quarter.

Ciena reported a loss of 8 cents a share for the fiscal fourth quarter, missing the Capital IQ Consensus Estimate for earnings of 12 cents a share by 20 cents. Revenue grew 1.3% year over year to $591 million for the quarter, compared to analysts' estimates of $589.44 million.

The company reported an adjusted gross margin of 37.9% for the quarter, compared to its guidance of a gross margin in the high 30% to lo 40% range.

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Ciena said it expects to report revenue of $540 million to $570 million for the fiscal first quarter. Analysts expects revenue of $566.58 million for the quarter.

TheStreet Ratings team rates CIENA CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CIENA CORP (CIEN) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."

You can view the full analysis from the report here: CIEN Ratings Report

CIEN Chart CIEN data by YCharts

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