Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Average Recommendation of “” from Analysts

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been assigned a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating.

Brokerages have set a 1-year consensus price objective of $3.50 for the company and are forecasting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also given Ceragon Networks an industry rank of 73 out of 265 based on the ratings given to its competitors.

A number of brokerages have issued reports on CRNT. Zacks Investment Research cut Ceragon Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Ceragon Networks in a research report on Thursday, May 11th.

Shares of Ceragon Networks (CRNT) traded down 2.64% during trading on Monday, hitting $2.58. The stock had a trading volume of 632,741 shares. The company has a market capitalization of $200.71 million, a price-to-earnings ratio of 17.09 and a beta of 1.15. The firm has a 50 day moving average of $2.65 and a 200 day moving average of $3.21. Ceragon Networks has a 1-year low of $1.89 and a 1-year high of $4.23.

Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Thursday, May 11th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Ceragon Networks had a return on equity of 10.27% and a net margin of 3.79%. The business had revenue of $76.02 million during the quarter, compared to analysts’ expectations of $74.09 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. Analysts expect that Ceragon Networks will post $0.21 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised 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 worth $10,234,000 after buying an additional 15,385 shares during the period. Parametric Portfolio Associates LLC raised its stake 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 period. Russell Investments Group Ltd. bought a new stake in Ceragon Networks during the fourth quarter worth approximately $143,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ceragon Networks by 47.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 186,145 shares of the communications equipment provider’s stock worth $609,000 after buying an additional 59,629 shares during the period. Finally, Essex Investment Management Co. LLC raised 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 worth $1,264,000 after buying an additional 95,473 shares during the period. Hedge funds and other institutional investors own 21.65% 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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