Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been assigned an average broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating.
Brokerages have set a twelve-month consensus price target of $3.50 for the company and are predicting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also given Ceragon Networks an industry rank of 52 out of 265 based on the ratings given to related companies.
CRNT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ceragon Networks in a report on Thursday, May 11th.
Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Ceragon Networks during the fourth quarter valued at $143,000. Renaissance Technologies LLC increased its stake in Ceragon Networks by 12.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,335,470 shares of the communications equipment provider’s stock valued at $6,119,000 after buying an additional 254,990 shares during the last quarter. Norges Bank purchased a new stake in Ceragon Networks during the fourth quarter valued at $1,291,000. Acadian Asset Management LLC increased its stake in 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 valued at $10,234,000 after buying an additional 15,385 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in Ceragon Networks by 32.8% in the first quarter. Essex Investment Management Co. LLC now owns 386,599 shares of the communications equipment provider’s stock valued at $1,264,000 after buying an additional 95,473 shares during the last quarter. Hedge funds and other institutional investors own 21.65% of the company’s stock.
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Shares of Ceragon Networks (NASDAQ CRNT) opened at 2.80 on Monday. Ceragon Networks has a 52 week low of $1.89 and a 52 week high of $4.23. The stock has a market cap of $217.83 million, a PE ratio of 18.54 and a beta of 1.15. The stock has a 50 day moving average of $2.81 and a 200-day moving average of $3.20.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Thursday, May 11th. The communications equipment provider reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $76.02 million during the quarter, compared to analyst estimates of $74.09 million. Ceragon Networks had a net margin of 3.79% and a return on equity of 10.27%. Ceragon Networks’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. Equities research analysts predict that Ceragon Networks will post $0.21 earnings per share for the current fiscal year.
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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