Ciena Corporation (NASDAQ: CIEN) will announce Q4 results on Thursday, December 13th, before the open. Analysts at Nomura expect Ciena to report Q4 revenue of $471 million and EPS of $(0.05). Their estimates are a touch higher than consensus, but are considered in line with the street ($468M, $(0.06)).
"The optical market was challenging in CYQ3, falling 5% yoy, with much of the weakness concentrated in the US, Ciena's core market," said Nomura analyst Stuart Jeffrey. He thinks much of this weakness is baked into expectations.
Ciena is also expected to offer guidance, which Jeffrey thinks will be cautious.
"The company will likely only provide one quarter of financial guidance, as few operators have articulated 2013 spending plans. While there are signs of an improving carrier spending environment in 2013, timing remains uncertain near-term and we expect management to retain its outlook of 'growing faster than the market', added Jeffrey.
Overall, Nomura said there is growing evidence of a cyclical recovery in 2013.
Nomura Securities has a Buy rating on CIENA ( NASDAQ: CIEN) with a price target of $18.00.
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Shares of CIENA closed at $15.31 yesterday, with a 52 week range of $10.30-$18.39. |
