Despite Lower Earnings Than Five Years Ago, Ciena (NYSE:CIEN) Investors Are up 43% Since Then
Despite Lower Earnings Than Five Years Ago, Ciena (NYSE:CIEN) Investors Are up 43% Since Then
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. Ciena Corporation (NYSE:CIEN) shareholders might be concerned after seeing the share price drop 13% in the last month. On the bright side the share price is up over the last half decade. However we are not very impressed because the share price is only up 43%, less than the market return of 73%.
Ciena公司(纽约证券交易所股票代码：Cien)上个月股价下跌13%后，股东们可能会感到担忧。从好的方面来看，该公司股价在过去五年里有所上涨。然而，我们并不是很印象深刻，因为股价只上涨了43%，低于73%的市场回报率。
Since the long term performance has been good but there's been a recent pullback of 4.5%, let's check if the fundamentals match the share price.
由于长期表现良好，但最近出现了4.5%的回调，让我们看看基本面是否与股价匹配。
Check out our latest analysis for Ciena
查看我们对Ciena的最新分析
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
虽然市场是一种强大的定价机制，但股价反映的是投资者情绪，而不仅仅是潜在的企业表现。通过比较每股收益(EPS)和股价随时间的变化，我们可以感受到投资者对一家公司的态度随着时间的推移发生了怎样的变化。
Ciena's earnings per share are down 22% per year, despite strong share price performance over five years.
尽管过去五年股价表现强劲，但Ciena的每股收益每年仍下降22%。
Essentially, it doesn't seem likely that investors are focused on EPS. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
从本质上讲，投资者似乎不太可能把重点放在每股收益上。由于每股收益的变化似乎与股价的变化没有相关性，因此值得看看其他指标。
On the other hand, Ciena's revenue is growing nicely, at a compound rate of 4.4% over the last five years. It's quite possible that management are prioritizing revenue growth over EPS growth at the moment.
另一方面，Ciena的收入增长良好，过去五年的复合增长率为4.4%。目前，管理层很有可能将收入增长置于每股收益增长之上。
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
下图显示了收益和收入随时间的变化情况(如果您点击该图，您可以看到更多详细信息)。
Ciena is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. You can see what analysts are predicting for Ciena in this interactive graph of future profit estimates.
Ciena是一只知名的股票，分析师的报道很多，这表明它对未来的增长有一定的可见性。您可以在这里看到分析师对Ciena的预测互动未来利润预估图表。
A Different Perspective
不同的视角
Ciena shareholders are up 3.4% for the year. But that return falls short of the market. It's probably a good sign that the company has an even better long term track record, having provided shareholders with an annual TSR of 7% over five years. It may well be that this is a business worth popping on the watching, given the continuing positive reception, over time, from the market. Most investors take the time to check the data on insider transactions. You can click here to see if insiders have been buying or selling.
Ciena股东今年以来上涨了3.4%。但这一回报率低于市场。这可能是一个好迹象，表明该公司拥有更好的长期记录，在五年内为股东提供了7%的年TSR。考虑到随着时间的推移，市场对这一业务的持续积极反应，这很可能是一项值得关注的业务。大多数投资者都会花时间检查内幕交易的数据。你可以点击这里，看看内部人士是在买入还是卖出。
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.
如果你更愿意看看另一家公司--一家财务状况可能更好的公司--那么不要错过这一点免费已证明自己能够实现盈利增长的公司名单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意，本文引用的市场回报反映了目前在美国交易所交易的股票的市场加权平均回报。
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本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
