Ceragon Networks Ltd. (NASDAQ:CRNT) has been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $2.50.
Several research analysts have weighed in on CRNT shares. Zacks Investment Research lowered shares of Ceragon Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Jefferies Group LLC reaffirmed a “hold” rating and set a $2.50 target price on shares of Ceragon Networks in a research note on Sunday, October 8th. ValuEngine raised shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Ceragon Networks in a research note on Tuesday, August 8th.
Shares of Ceragon Networks (NASDAQ CRNT) opened at $1.69 on Wednesday. Ceragon Networks has a 1-year low of $1.64 and a 1-year high of $4.23. The stock has a market cap of $131.55, a PE ratio of 8.45 and a beta of 1.08.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Monday, November 6th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. The firm had revenue of $75.99 million during the quarter, compared to analyst estimates of $78.22 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Ceragon Networks’s quarterly revenue was down 4.0% on a year-over-year basis. analysts anticipate that Ceragon Networks will post 0.18 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in CRNT. Parametric Portfolio Associates LLC boosted its stake in Ceragon Networks by 51.8% during 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. UBS Group AG purchased a new position in Ceragon Networks during the first quarter worth about $965,000. Eagle Global Advisors LLC lifted its position in shares of Ceragon Networks by 113.0% during the second quarter. Eagle Global Advisors LLC now owns 98,000 shares of the communications equipment provider’s stock worth $250,000 after purchasing an additional 52,000 shares in the last quarter. Spark Investment Management LLC acquired a new stake in shares of Ceragon Networks during the second quarter worth about $305,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Ceragon Networks by 64.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock worth $155,000 after purchasing an additional 23,880 shares in the last quarter. 17.19% of the stock is owned by institutional investors.
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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