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.
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