Oppenheimer Analysts Boost Earnings Estimates for Ceragon Networks Ltd (CRNT)

Ceragon Networks Ltd (NASDAQ:CRNT) – Oppenheimer boosted their Q2 2018 EPS estimates for shares of Ceragon Networks in a report issued on Monday. Oppenheimer analyst G. Iwanyc now anticipates that the communications equipment provider will post earnings per share of $0.05 for the quarter, up from their previous forecast of $0.04. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Ceragon Networks’ FY2019 earnings at $0.22 EPS.

CRNT has been the topic of several other reports. ValuEngine raised Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Zacks Investment Research cut Ceragon Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Ceragon Networks presently has an average rating of “Hold” and an average target price of $2.50.

Shares of Ceragon Networks (NASDAQ CRNT) opened at $2.49 on Tuesday. The stock has a market capitalization of $162.68, a PE ratio of 10.45 and a beta of 1.01. Ceragon Networks has a 12 month low of $1.64 and a 12 month high of $4.23.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Monday, February 12th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company had revenue of $86.70 million for the quarter, compared to analysts’ expectations of $75.21 million. Ceragon Networks had a return on equity of 12.60% and a net margin of 5.06%. Ceragon Networks’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share.

A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position 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 acquiring an additional 1,205 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in Ceragon Networks by 23.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,132 shares of the communications equipment provider’s stock valued at $151,000 after acquiring an additional 11,410 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position 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 acquiring an additional 23,616 shares in the last quarter. Systematic Financial Management LP boosted its position 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 acquiring an additional 42,275 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Ceragon Networks by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,177,300 shares of the communications equipment provider’s stock valued at $3,002,000 after acquiring an additional 55,702 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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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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