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.
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