Analysts Set Expectations for Ceragon Networks Ltd.’s FY2024 Earnings (NASDAQ:CRNT)

Ceragon Networks Ltd. (NASDAQ:CRNT) – Stock analysts at Aegis issued their FY2024 EPS estimates for shares of Ceragon Networks in a note issued to investors on Tuesday, September 12th. Aegis analyst R. Dionisio anticipates that the communications equipment provider will post earnings per share of $0.19 for the year. Aegis currently has a “Buy” rating on the stock.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Tuesday, August 1st. The communications equipment provider reported $0.04 earnings per share for the quarter. Ceragon Networks had a return on equity of 6.23% and a net margin of 0.14%. The company had revenue of $86.15 million for the quarter.

A number of other equities analysts have also commented on the stock. StockNews.com began coverage on shares of Ceragon Networks in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $5.25 target price on shares of Ceragon Networks in a research report on Wednesday, August 2nd.

Ceragon Networks Stock Performance

CRNT opened at $1.91 on Friday. The firm has a market cap of $160.95 million, a P/E ratio of 18.30 and a beta of 1.40. The business has a 50 day moving average price of $2.02 and a 200 day moving average price of $1.89. Ceragon Networks has a twelve month low of $1.55 and a twelve month high of $2.38.

Institutional Trading of Ceragon Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC bought a new stake in shares of Ceragon Networks in the first quarter valued at approximately $142,154,000,000. ETF Managers Group LLC bought a new stake in Ceragon Networks in the 1st quarter valued at $327,000. First Wilshire Securities Management Inc. grew its position in Ceragon Networks by 32.8% in the 4th quarter. First Wilshire Securities Management Inc. now owns 2,412,135 shares of the communications equipment provider’s stock worth $4,607,000 after purchasing an additional 595,380 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Ceragon Networks by 995.8% during the 4th quarter. GSA Capital Partners LLP now owns 178,535 shares of the communications equipment provider’s stock worth $341,000 after purchasing an additional 162,243 shares during the period. Finally, Smith Moore & CO. acquired a new position in shares of Ceragon Networks during the first quarter valued at about $60,000. Institutional investors and hedge funds own 13.77% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and service provider's network.