Jefferies Group Weighs in on Ceragon Networks Ltd.’s Q3 2017 Earnings (CRNT)

Ceragon Networks Ltd. (NASDAQ:CRNT) – Investment analysts at Jefferies Group cut their Q3 2017 earnings per share (EPS) estimates for Ceragon Networks in a research note issued on Monday. Jefferies Group analyst J. Kisner now expects that the communications equipment provider will earn $0.05 per share for the quarter, down from their previous forecast of $0.06. Jefferies Group also issued estimates for Ceragon Networks’ Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.05 EPS, Q4 2018 earnings at $0.05 EPS and FY2018 earnings at $0.19 EPS.

A number of other equities analysts have also issued reports on CRNT. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ceragon Networks in a research report on Thursday, May 11th. Zacks Investment Research upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ceragon Networks presently has a consensus rating of “Hold” and a consensus price target of $2.83.

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Shares of Ceragon Networks (NASDAQ:CRNT) opened at 2.12 on Thursday. Ceragon Networks has a 1-year low of $1.95 and a 1-year high of $4.23. The firm has a market capitalization of $164.93 million, a PE ratio of 14.04 and a beta of 1.13. The company has a 50-day moving average of $2.51 and a 200-day moving average of $3.11.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Monday, August 7th. The communications equipment provider reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $93.30 million during the quarter, compared to analysts’ expectations of $87.84 million. Ceragon Networks had a net margin of 5.00% and a return on equity of 13.52%. Ceragon Networks’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS.

Several large investors have recently modified their holdings of CRNT. KCG Holdings Inc. bought a new stake in shares of Ceragon Networks during the first quarter valued at $573,000. Lazard Asset Management LLC bought a new stake in shares of Ceragon Networks during the first quarter valued at $1,055,000. UBS Group AG bought a new stake in shares of Ceragon Networks during the first quarter valued at $965,000. Systematic Financial Management LP bought a new stake in shares of Ceragon Networks during the first quarter valued at $1,579,000. Finally, United Services Automobile Association bought a new stake in shares of Ceragon Networks during the first quarter valued at $1,050,000. 22.27% of the stock is owned by hedge funds and other institutional investors.

Ceragon Networks Company Profile

Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.

Earnings History and Estimates for Ceragon Networks (NASDAQ:CRNT)

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