Ceragon Networks Ltd. (NASDAQ:CRNT) – Investment analysts at Oppenheimer Holdings cut their Q1 2018 earnings estimates for Ceragon Networks in a research report issued on Monday. Oppenheimer Holdings analyst G. Iwanyc now expects that the communications equipment provider will post earnings per share of $0.02 for the quarter, down from their previous forecast of $0.03. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Ceragon Networks’ Q4 2018 earnings at $0.06 EPS and FY2018 earnings at $0.18 EPS.
CRNT has been the topic of a number of other research reports. Zacks Investment Research downgraded Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine upgraded Ceragon Networks from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $2.50 price objective on shares of Ceragon Networks in a report on Sunday, October 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.50.
Shares of Ceragon Networks (NASDAQ CRNT) traded down $0.02 on Thursday, hitting $1.75. The stock had a trading volume of 332,264 shares, compared to its average volume of 461,426. The firm has a market cap of $144.00, a P/E ratio of 9.25 and a beta of 1.08. Ceragon Networks has a one year low of $1.77 and a one year high of $4.23.
Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Monday, November 6th. The communications equipment provider reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $75.99 million for the quarter, compared to the consensus estimate of $78.22 million. Ceragon Networks had a return on equity of 12.60% and a net margin of 5.06%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS.
A number of large investors have recently added to or reduced their stakes in CRNT. Parametric Portfolio Associates LLC increased its holdings in 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 during the last quarter. UBS Group AG bought a new stake in Ceragon Networks during the first quarter worth approximately $965,000. Eagle Global Advisors LLC boosted its position in Ceragon Networks by 113.0% during the second quarter. Eagle Global Advisors LLC now owns 98,000 shares of the communications equipment provider’s stock worth $250,000 after purchasing an additional 52,000 shares during the period. Spark Investment Management LLC bought a new stake in Ceragon Networks during the second quarter worth approximately $305,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Ceragon Networks by 64.6% during 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 purchasing an additional 23,880 shares during the period. Hedge funds and other institutional investors own 19.22% 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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