Ceragon Networks (CRNT) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ceragon Networks (NASDAQ:CRNT) released its quarterly earnings data on Monday. The communications equipment provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01, Morningstar.com reports. The company had revenue of $86.70 million during the quarter, compared to analyst estimates of $75.21 million. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. Ceragon Networks’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS.

Shares of Ceragon Networks (NASDAQ CRNT) opened at $2.09 on Monday. The firm has a market cap of $162.68, a price-to-earnings ratio of 10.45 and a beta of 1.01. Ceragon Networks has a one year low of $1.64 and a one year high of $4.23.

Several large investors have recently added to or reduced their stakes in the company. Algert Global LLC increased its stake in Ceragon Networks by 44.8% during the 3rd quarter. Algert Global LLC now owns 747,633 shares of the communications equipment provider’s stock valued at $1,555,000 after purchasing an additional 231,314 shares in the last quarter. Systematic Financial Management LP increased its stake in Ceragon Networks by 9.5% during the 3rd quarter. Systematic Financial Management LP now owns 489,620 shares of the communications equipment provider’s stock valued at $1,018,000 after purchasing an additional 42,275 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Ceragon Networks during the 3rd quarter valued at $743,000. Arrowstreet Capital Limited Partnership increased its stake in Ceragon Networks by 6.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 406,991 shares of the communications equipment provider’s stock valued at $1,038,000 after purchasing an additional 23,616 shares in the last quarter. Finally, State Street Corp increased its stake in Ceragon Networks by 1.6% during the 2nd quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock valued at $195,000 after purchasing an additional 1,205 shares in the last quarter. Institutional investors own 14.15% of the company’s stock.

CRNT has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Ceragon Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. ValuEngine upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $2.50.

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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.

Earnings History for Ceragon Networks (NASDAQ:CRNT)

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