Q2 2022 EPS Estimates for Ceragon Networks Ltd. Decreased by Oppenheimer (NASDAQ:CRNT)

Ceragon Networks Ltd. (NASDAQ:CRNTGet Rating) – Equities research analysts at Oppenheimer decreased their Q2 2022 earnings estimates for shares of Ceragon Networks in a research note issued on Monday, May 2nd. Oppenheimer analyst G. Iwanyc now expects that the communications equipment provider will earn ($0.04) per share for the quarter, down from their prior estimate of ($0.01). Oppenheimer also issued estimates for Ceragon Networks’ FY2022 earnings at ($0.06) EPS.

Ceragon Networks (NASDAQ:CRNTGet Rating) last released its earnings results on Monday, May 2nd. The communications equipment provider reported ($0.03) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.03). Ceragon Networks had a negative net margin of 5.44% and a negative return on equity of 4.63%. During the same period in the previous year, the business earned ($0.01) EPS.

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

NASDAQ:CRNT opened at $2.00 on Thursday. The company has a market capitalization of $166.78 million, a P/E ratio of -10.00, a P/E/G ratio of 4.99 and a beta of 1.69. The business has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $2.44. Ceragon Networks has a 1 year low of $1.76 and a 1 year high of $4.33.

A number of institutional investors have recently bought and sold shares of CRNT. Moors & Cabot Inc. purchased a new stake in Ceragon Networks in the 3rd quarter worth approximately $236,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks in the fourth quarter worth $30,000. LPL Financial LLC raised its position 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 buying an additional 6,000 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new position in Ceragon Networks during the fourth quarter worth about $56,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ceragon Networks by 57.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,595 shares of the communications equipment provider’s stock worth $65,000 after acquiring an additional 11,113 shares during the last quarter. 23.38% of the stock is currently owned by institutional investors and hedge funds.

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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