Ceragon Networks Ltd (NASDAQ:CRNT) – Equities researchers at Oppenheimer reduced their Q4 2018 earnings per share (EPS) estimates for Ceragon Networks in a note issued to investors on Monday, November 5th. Oppenheimer analyst G. Iwanyc now anticipates that the communications equipment provider will earn $0.04 per share for the quarter, down from their previous estimate of $0.06. Oppenheimer has a “Buy” rating and a $5.00 price objective on the stock. Oppenheimer also issued estimates for Ceragon Networks’ Q1 2019 earnings at $0.03 EPS, Q2 2019 earnings at $0.04 EPS, Q3 2019 earnings at $0.05 EPS, Q4 2019 earnings at $0.06 EPS and FY2019 earnings at $0.19 EPS.
Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Monday, November 5th. The communications equipment provider reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The company had revenue of $86.53 million during the quarter, compared to analysts’ expectations of $82.59 million. Ceragon Networks had a return on equity of 10.61% and a net margin of 4.79%.
Shares of CRNT stock opened at $3.93 on Wednesday. The stock has a market capitalization of $270.36 million, a PE ratio of 21.83, a P/E/G ratio of 1.28 and a beta of 0.73. Ceragon Networks has a 1-year low of $1.64 and a 1-year high of $4.15.
A number of large investors have recently made changes to their positions in CRNT. JPMorgan Chase & Co. lifted its holdings in shares of Ceragon Networks by 38.6% in the first quarter. JPMorgan Chase & Co. now owns 171,996 shares of the communications equipment provider’s stock valued at $463,000 after purchasing an additional 47,910 shares in the last quarter. California Public Employees Retirement System bought a new position in shares of Ceragon Networks in the first quarter valued at approximately $452,000. Millennium Management LLC lifted its holdings in shares of Ceragon Networks by 3,318.8% in the first quarter. Millennium Management LLC now owns 992,076 shares of the communications equipment provider’s stock valued at $2,669,000 after purchasing an additional 963,058 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Ceragon Networks by 40.5% in the second quarter. Acadian Asset Management LLC now owns 3,061,120 shares of the communications equipment provider’s stock valued at $10,930,000 after purchasing an additional 882,437 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Ceragon Networks in the second quarter valued at approximately $279,000. Institutional investors and hedge funds own 22.78% of the company’s stock.
Ceragon Networks Company Profile
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.
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