Ceragon Networks Ltd (NASDAQ:CRNT) shares saw strong trading volume on Monday following a stronger than expected earnings report. 3,922,389 shares were traded during mid-day trading, an increase of 624% from the previous session’s volume of 541,989 shares.The stock last traded at $3.67 and had previously closed at $3.46.
The communications equipment provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Ceragon Networks had a return on equity of 10.61% and a net margin of 4.79%. The company had revenue of $86.53 million during the quarter, compared to analyst estimates of $82.59 million.
Several equities research analysts recently weighed in on the company. BidaskClub raised Ceragon Networks from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Oppenheimer set a $5.00 price objective on Ceragon Networks and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research lowered Ceragon Networks from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. CIBC raised Ceragon Networks from a “market perform” rating to an “outperform” rating in a report on Friday, September 28th. Finally, ValuEngine raised Ceragon Networks from a “hold” rating to a “buy” rating in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $4.23.
The stock has a market cap of $270.36 million, a PE ratio of 22.03, a PEG ratio of 1.28 and a beta of 0.73.
About Ceragon Networks (NASDAQ:CRNT)
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 radio technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
Further Reading: What are the Benefits of Index Funds?
Receive News & Ratings for Ceragon Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceragon Networks and related companies with MarketBeat.com's FREE daily email newsletter.