In the latest trading session, Ciena (CIEN) closed at $44.80, marking a +0.74% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.46%. At the same time, the Dow lost 0.91%, and the tech-heavy Nasdaq lost 0.06%.Coming into today, shares of the developer of high-speed networking technology had gained 14.58% in the past month. In that same time, the Computer and Technology sector gained 7.04%, while the S&P 500 gained 7.53%.Wall Street will be looking for positivity from CIEN as it approaches its next earnings report date. This is expected to be December 10, 2020. In that report, analysts expect CIEN to post earnings of $0.63 per share. This would mark year-over-year growth of 8.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $828.61 million, down 14.4% from the year-ago period.Investors might also notice recent changes to analyst estimates for CIEN. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CIEN is holding a Zacks Rank of #4 (Sell) right now.Investors should also note CIEN's current valuation metrics, including its Forward P/E ratio of 16.61. Its industry sports an average Forward P/E of 16.61, so we one might conclude that CIEN is trading at a no noticeable deviation comparatively.Meanwhile, CIEN's PEG ratio is currently 1.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Fiber Optics industry currently had an average PEG ratio of 1.04 as of yesterday's close.The Fiber Optics industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 248, which puts it in the bottom 3% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow CIEN in the coming trading sessions, be sure to utilize Zacks.com.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.