Ceragon Networks (NASDAQ:CRNT) Issues Earnings Results

Ceragon Networks (NASDAQ:CRNTGet Rating) released its quarterly earnings results on Monday. The communications equipment provider reported ($0.03) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.03), Fidelity Earnings reports. Ceragon Networks had a negative return on equity of 3.42% and a negative net margin of 5.10%. During the same quarter in the prior year, the business earned ($0.01) EPS.

Shares of NASDAQ:CRNT opened at $1.87 on Tuesday. The stock’s 50-day moving average price is $2.06 and its 200-day moving average price is $2.45. Ceragon Networks has a 12-month low of $1.76 and a 12-month high of $4.33. The stock has a market capitalization of $155.94 million, a P/E ratio of -10.39, a price-to-earnings-growth ratio of 5.09 and a beta of 1.69.

Several large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Ceragon Networks in the fourth quarter worth about $30,000. BNP Paribas Arbitrage SA bought a new stake in shares of Ceragon Networks in the fourth quarter worth about $56,000. LPL Financial LLC grew its stake in shares of Ceragon Networks by 40.5% in the third quarter. LPL Financial LLC now owns 20,820 shares of the communications equipment provider’s stock worth $73,000 after purchasing an additional 6,000 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Ceragon Networks in the fourth quarter worth about $86,000. Finally, Stifel Financial Corp grew its stake in shares of Ceragon Networks by 30.5% in the fourth quarter. Stifel Financial Corp now owns 42,736 shares of the communications equipment provider’s stock worth $110,000 after purchasing an additional 10,000 shares during the last quarter. 23.38% of the stock is currently owned by hedge funds and other institutional investors.

CRNT has been the topic of a number of research reports. StockNews.com initiated coverage on Ceragon Networks in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Finally, TheStreet cut Ceragon Networks from a “c-” rating to a “d+” rating in a research note on Thursday, March 3rd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $5.63.

Ceragon Networks Company Profile (Get Rating)

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small/distributed cells, and the core of the service provider's network.

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Earnings History for Ceragon Networks (NASDAQ:CRNT)

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