Ceragon Networks (CRNT) Getting Somewhat Favorable Media Coverage, Report Finds
Press coverage about Ceragon Networks (NASDAQ:CRNT) has trended somewhat positive on Thursday, according to Accern. The research group scores the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Ceragon Networks earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave news articles about the communications equipment provider an impact score of 45.5114132333866 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Shares of Ceragon Networks (NASDAQ CRNT) traded up 0.49% during midday trading on Thursday, hitting $2.06. 210,586 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $2.05 and its 200-day moving average is $2.57. Ceragon Networks has a 1-year low of $1.88 and a 1-year high of $4.23. The stock has a market cap of $160.46 million, a PE ratio of 9.67 and a beta of 1.25.
Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Monday, August 7th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $93.30 million during the quarter, compared to analyst estimates of $87.84 million. Ceragon Networks had a net margin of 5.00% and a return on equity of 13.52%. The business’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Analysts predict that Ceragon Networks will post $0.20 earnings per share for the current fiscal year.
A number of equities research analysts have commented on CRNT shares. Zacks Investment Research raised shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Ceragon Networks in a research report on Tuesday, August 8th. ValuEngine downgraded shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $2.50 price objective on shares of Ceragon Networks in a research report on Sunday, October 8th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $2.67.
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About Ceragon Networks
Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.
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