Ceragon Networks Ltd (NASDAQ:CRNT) – Analysts at Oppenheimer issued their Q1 2020 earnings estimates for Ceragon Networks in a research note issued on Monday, August 12th. Oppenheimer analyst G. Iwanyc forecasts that the communications equipment provider will post earnings of $0.01 per share for the quarter. Oppenheimer has a “Buy” rating and a $4.00 price objective on the stock. Oppenheimer also issued estimates for Ceragon Networks’ Q2 2020 earnings at $0.01 EPS, Q3 2020 earnings at $0.07 EPS and Q4 2020 earnings at $0.07 EPS.
Several other equities analysts have also recently weighed in on the company. ValuEngine raised Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. BidaskClub lowered Ceragon Networks from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Zacks Investment Research lowered Ceragon Networks from a “buy” rating to a “sell” rating in a research report on Thursday. Finally, TheStreet lowered Ceragon Networks from a “b” rating to a “c+” rating in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Ceragon Networks currently has a consensus rating of “Hold” and an average target price of $3.83.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, August 12th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ceragon Networks had a return on equity of 8.44% and a net margin of 6.14%. The company had revenue of $73.00 million for the quarter, compared to the consensus estimate of $72.62 million.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Delek Group Ltd. raised its stake in shares of Ceragon Networks by 19.1% in the 2nd quarter. Delek Group Ltd. now owns 62,180 shares of the communications equipment provider’s stock valued at $178,000 after purchasing an additional 9,977 shares during the period. Seelaus Asset Management LLC acquired a new stake in shares of Ceragon Networks in the 1st quarter valued at about $36,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ceragon Networks in the 2nd quarter valued at about $33,000. AJO LP raised its stake in shares of Ceragon Networks by 2.0% in the 1st quarter. AJO LP now owns 693,898 shares of the communications equipment provider’s stock valued at $2,491,000 after purchasing an additional 13,282 shares during the period. Finally, ARK Investment Management LLC raised its stake in shares of Ceragon Networks by 12.3% in the 2nd quarter. ARK Investment Management LLC now owns 131,354 shares of the communications equipment provider’s stock valued at $385,000 after purchasing an additional 14,381 shares during the period. 20.10% of the stock is currently owned by hedge funds and other institutional investors.
About Ceragon Networks
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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