FY2017 Earnings Estimate for Ceragon Networks Ltd. Issued By Oppenheimer Holdings (CRNT)
Ceragon Networks Ltd. (NASDAQ:CRNT) – Equities research analysts at Oppenheimer Holdings decreased their FY2017 earnings estimates for Ceragon Networks in a research note issued on Monday. Oppenheimer Holdings analyst G. Iwanyc now forecasts that the communications equipment provider will earn $0.18 per share for the year, down from their previous forecast of $0.19. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Ceragon Networks’ Q4 2017 earnings at $0.04 EPS, Q3 2018 earnings at $0.06 EPS and FY2019 earnings at $0.21 EPS.
Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Monday, November 6th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. The firm had revenue of $75.99 million during the quarter, compared to analyst estimates of $78.22 million. Ceragon Networks had a return on equity of 12.60% and a net margin of 5.06%. Ceragon Networks’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Ceragon Networks from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine downgraded Ceragon Networks from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $2.50 price target on shares of Ceragon Networks in a report on Sunday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $2.50.
Shares of Ceragon Networks (NASDAQ CRNT) opened at $1.77 on Wednesday. The stock has a market capitalization of $144.00, a PE ratio of 9.25 and a beta of 1.08. Ceragon Networks has a fifty-two week low of $1.77 and a fifty-two week high of $4.23.
Several institutional investors have recently bought and sold shares of the company. Menta Capital LLC acquired a new position in Ceragon Networks in the 2nd quarter valued at about $408,000. Spark Investment Management LLC acquired a new position in Ceragon Networks during the 2nd quarter worth approximately $305,000. Essex Investment Management Co. LLC increased its position in Ceragon Networks by 35.5% during the 2nd quarter. Essex Investment Management Co. LLC now owns 523,772 shares of the communications equipment provider’s stock worth $1,336,000 after purchasing an additional 137,173 shares during the period. Zweig DiMenna Associates LLC increased its position in Ceragon Networks by 46.6% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 534,965 shares of the communications equipment provider’s stock worth $1,364,000 after purchasing an additional 169,965 shares during the period. Finally, UBS Group AG acquired a new position in Ceragon Networks during the 1st quarter worth approximately $965,000. 19.22% of the stock is owned by institutional investors and hedge funds.
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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