6.52 0.00 (0.00%)
After hours: 4:07PM EDT
|Bid||6.42 x 3200|
|Ask||6.52 x 1300|
|Day's range||6.51 - 6.70|
|52-week range||3.68 - 9.25|
|Beta (5Y monthly)||1.03|
|PE ratio (TTM)||N/A|
|Earnings date||10 Nov 2020 - 16 Nov 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||9.19|
Does the October share price for Infinera Corporation (NASDAQ:INFN) reflect what it's really worth? Today, we will...
Infinera's (NASDAQ: INFN) stock recently tumbled after its larger fiber optics peer Ciena (NYSE: CIEN) followed up a solid quarter with bleak guidance. Ciena's revenue rose 2% year-over-year during its third quarter, and its adjusted EPS jumped 49%. Both figures topped Wall Street's expectations, but CEO Gary Smith warned that "COVID-related market dynamics" had throttled its orders and would "adversely impact" its revenue growth "for a few quarters."
Ciena Corporation (NYSE: CIEN) reported its third-quarter earnings this morning and beat analyst estimates handily, earning $1.06 per share (adjusted), versus the Street consensus expectation of $0.83. Now here's the bad: Guidance at Ciena was exceptionally weak, and that weak guidance is destroying Ciena stock in morning trading. As of 10:15 a.m. EDT, Ciena stock is down a staggering 24%, and fellow networking equipment industry players Infinera (NASDAQ: INFN), Lumentum Holdings (NASDAQ: LITE), and II-VI Incorporated (NASDAQ: IIVI) are falling in tandem, down 16.3%, 11%, and 9.1%, respectively.