Ciena (Nasdaq: CIEN) is expected to report Q1 earnings on March 7. 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 7.8% and EPS will remain in the red.

The average estimate for revenue is $449.2 million. On the bottom line, the average EPS estimate is -$0.14.

Revenue details
Last quarter, Ciena tallied revenue of $465.5 million. GAAP reported sales were 2.2% higher than the prior-year quarter's $455.5 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 -$0.07. GAAP EPS were -$0.39 for Q4 against -$0.23 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 41.3%, 350 basis points worse than the prior-year quarter. Operating margin was -4.3%, 450 basis points worse than the prior-year quarter. Net margin was -8.3%, 340 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.97 billion. The average EPS estimate is $0.24.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 470 members out of 544 rating the stock outperform, and 74 members rating it underperform. Among 125 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 105 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 $17.06.

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