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.
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.
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