Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5972
    -0.0003 (-0.05%)
     
  • NZD/EUR

    0.5538
    +0.0005 (+0.09%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD

    2,254.80
    +16.40 (+0.73%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • NZD/JPY

    90.3500
    -0.0430 (-0.05%)
     

Is Ciena (CIEN) Outperforming Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of Ciena (CIEN), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CIEN and the rest of the Computer and Technology group's stocks.

Ciena is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CIEN is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CIEN's full-year earnings has moved 4.70% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

ADVERTISEMENT

Based on the most recent data, CIEN has returned 9.29% so far this year. In comparison, Computer and Technology companies have returned an average of 17.18%. As we can see, Ciena is performing better than its sector in the calendar year.

Looking more specifically, CIEN belongs to the Fiber Optics industry, which includes 2 individual stocks and currently sits at #17 in the Zacks Industry Rank. Stocks in this group have gained about 8.23% so far this year, so CIEN is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CIEN as it looks to continue its solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Ciena Corporation (CIEN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research