CIENA (Nasdaq: CIEN) is expected to report Q4 earnings on Dec. 13. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict CIENA's revenues will grow 2.8% and EPS will shrink to a loss.

The average estimate for revenue is $468.2 million. On the bottom line, the average EPS estimate is -$0.06.

Revenue details
 Last quarter, CIENA logged revenue of $474.1 million. GAAP reported sales were 8.9% higher than the prior-year quarter's $435.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at -$0.04. GAAP EPS were -$0.30 for Q3 versus -$0.33 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 38.2%, 430 basis points worse than the prior-year quarter. Operating margin was -2.7%, 10 basis points better than the prior-year quarter. Net margin was -6.3%, 90 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.84 billion. The average EPS estimate is -$0.22.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 471 members out of 544 rating the stock outperform, and 73 members rating it underperform. Among 123 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 103 give CIENA a green thumbs-up, and 20 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CIENA is outperform, with an average price target of $17.49.

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