FY2017 EPS Estimates for Ceragon Networks Ltd. (CRNT) Lowered by Analyst

Ceragon Networks Ltd. (NASDAQ:CRNT) – Stock analysts at Oppenheimer Holdings reduced their FY2017 earnings per share estimates for Ceragon Networks in a report issued on Tuesday. Oppenheimer Holdings analyst G. Iwanyc now expects that the communications equipment provider will earn $0.19 per share for the year, down from their previous estimate of $0.21. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Ceragon Networks’ Q4 2017 earnings at $0.06 EPS.

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

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Separately, Zacks Investment Research raised shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $2.83.

Ceragon Networks (NASDAQ:CRNT) opened at 2.12 on Thursday. The firm’s 50-day moving average is $2.51 and its 200-day moving average is $3.11. The stock has a market cap of $164.93 million, a P/E ratio of 14.04 and a beta of 1.13. Ceragon Networks has a 12 month low of $1.95 and a 12 month high of $4.23.

Several large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its stake in shares of Ceragon Networks by 51.8% in the first quarter. Parametric Portfolio Associates LLC now owns 47,722 shares of the communications equipment provider’s stock worth $156,000 after buying an additional 16,294 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Ceragon Networks during the fourth quarter worth $143,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Ceragon Networks by 64.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock worth $155,000 after buying an additional 23,880 shares in the last quarter. Eagle Global Advisors LLC boosted its stake in shares of Ceragon Networks by 113.0% in the second quarter. Eagle Global Advisors LLC now owns 98,000 shares of the communications equipment provider’s stock worth $250,000 after buying an additional 52,000 shares in the last quarter. Finally, Spark Investment Management LLC bought a new stake in shares of Ceragon Networks during the second quarter worth $305,000. Institutional investors and hedge funds own 22.27% of the company’s stock.

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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