Ceragon Networks Ltd. (CRNT) Given Consensus Rating of “Hold” by Analysts
Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.00.
Several equities research analysts have recently weighed in on the company. ValuEngine cut Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded 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. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ceragon Networks in a research report on Thursday, May 11th.
Several hedge funds and other institutional investors have recently bought and sold shares of CRNT. State of New Jersey Common Pension Fund D boosted its position in Ceragon Networks by 64.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock valued at $155,000 after buying an additional 23,880 shares during the period. Spark Investment Management LLC bought a new position in Ceragon Networks during the second quarter valued at $305,000. Eagle Global Advisors LLC boosted its position in Ceragon Networks by 113.0% in the second quarter. Eagle Global Advisors LLC now owns 98,000 shares of the communications equipment provider’s stock valued at $250,000 after buying an additional 52,000 shares during the period. KCG Holdings Inc. bought a new position in Ceragon Networks during the first quarter valued at $573,000. Finally, Lazard Asset Management LLC bought a new position in Ceragon Networks during the first quarter valued at $1,055,000. Institutional investors own 20.64% of the company’s stock.
Ceragon Networks (NASDAQ CRNT) traded down 0.48% during trading on Friday, reaching $2.07. 205,081 shares of the company’s stock traded hands. Ceragon Networks has a 52-week low of $1.95 and a 52-week high of $4.23. The stock has a market cap of $161.23 million, a price-to-earnings ratio of 9.72 and a beta of 1.13. The company’s 50 day moving average is $2.28 and its 200-day moving average is $2.92.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Monday, August 7th. The communications equipment provider reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Ceragon Networks had a return on equity of 13.52% and a net margin of 5.00%. The firm had revenue of $93.30 million for the quarter, compared to analysts’ expectations of $87.84 million. During the same period in the prior year, the business posted $0.02 earnings per share. The company’s revenue was up 33.3% on a year-over-year basis. On average, analysts anticipate that Ceragon Networks will post $0.20 earnings per share for the current fiscal year.
Ceragon Networks Company Profile
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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