Is Ciena (CIEN) a Great Growth Stock?


Shutterstock photo

Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors' attention, and produce big gains as well. However, these can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.

One such company that might be well-positioned for future earnings growth is Ciena Corporation CIEN . This firm, which is in the Fiber Optics industry, saw EPS growth of 20.7% last year, and is looking great for this year too.

In fact, the current growth estimate for this year calls for earnings-per-share growth of 33.8%. Furthermore, the long-term growth rate is currently an impressive 15.8%, suggesting pretty good prospects for the long haul.

Ciena Corporation Price and Consensus

Ciena Corporation Price and Consensus | Ciena Corporation Quote

And if this wasn't enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 9.1%. Thanks to this rise in earnings estimates, CIEN has a Zacks Rank #1 (Strong Buy) which further underscores the potential for outperformance in this company. You can see  the complete list of today's Zacks #1 Rank stocks here .

So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider CIEN. Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for CIEN as well.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>


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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Investing Ideas , Stocks


More from Zacks.com

Subscribe






Zacks.com
Contributor:

Zacks.com

Equity Research
Follow on:








Research Brokers before you trade

Want to trade FX?





Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com