Ceragon Networks Ltd. to Post Q1 2018 Earnings of $0.03 Per Share, Oppenheimer Holdings Forecasts (CRNT)

Ceragon Networks Ltd. (NASDAQ:CRNT) – Equities researchers at Oppenheimer Holdings boosted their Q1 2018 earnings per share estimates for Ceragon Networks in a research report issued to clients and investors on Tuesday. Oppenheimer Holdings analyst G. Iwanyc now forecasts that the communications equipment provider will earn $0.03 per share for the quarter, up from their prior estimate of $0.02. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Ceragon Networks’ Q4 2018 earnings at $0.10 EPS and FY2018 earnings at $0.23 EPS.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Monday, August 7th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 earnings per share.

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Separately, Zacks Investment Research downgraded Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $2.83.

Shares of Ceragon Networks (NASDAQ CRNT) traded up 1.89% during midday trading on Wednesday, hitting $2.16. 139,671 shares of the stock were exchanged. The stock’s 50-day moving average price is $2.51 and its 200-day moving average price is $3.11. 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 $168.24 million, a price-to-earnings ratio of 10.14 and a beta of 1.13.

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in shares of Ceragon Networks by 0.5% in the first quarter. Acadian Asset Management LLC now owns 3,130,253 shares of the communications equipment provider’s stock worth $10,234,000 after buying an additional 15,385 shares during the period. Zweig DiMenna Associates LLC increased its stake in shares of Ceragon Networks by 46.6% in the second quarter. Zweig DiMenna Associates LLC now owns 534,965 shares of the communications equipment provider’s stock worth $1,364,000 after buying an additional 169,965 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Ceragon Networks by 35.5% in the second quarter. Essex Investment Management Co. LLC now owns 523,772 shares of the communications equipment provider’s stock worth $1,336,000 after buying an additional 137,173 shares during the period. Algert Global LLC increased its stake in shares of Ceragon Networks by 101.1% in the second quarter. Algert Global LLC now owns 516,319 shares of the communications equipment provider’s stock worth $1,317,000 after buying an additional 259,530 shares during the period. Finally, Norges Bank acquired a new stake in shares of Ceragon Networks during the fourth quarter worth about $1,291,000. Hedge funds and other institutional investors own 22.27% of the company’s stock.

About Ceragon Networks

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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