Ceragon Networks Ltd (CRNT) to Post Q1 2018 Earnings of $0.03 Per Share, Oppenheimer Forecasts

Ceragon Networks Ltd (NASDAQ:CRNT) – Equities researchers at Oppenheimer increased their Q1 2018 earnings 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 of $0.03 per share for the quarter, up from their previous forecast of $0.02. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Ceragon Networks’ FY2018 earnings at $0.20 EPS.

Several other equities research analysts have also commented on the company. ValuEngine upgraded Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Zacks Investment Research upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ceragon Networks currently has an average rating of “Hold” and an average price target of $2.50.

Shares of Ceragon Networks (CRNT) opened at $2.64 on Wednesday. Ceragon Networks has a 52-week low of $1.64 and a 52-week high of $4.23. The company has a market capitalization of $193.82, a PE ratio of 13.83 and a beta of 1.01.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Monday, February 12th. The communications equipment provider reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Ceragon Networks had a return on equity of 11.83% and a net margin of 4.69%. The company had revenue of $86.70 million for the quarter, compared to analyst estimates of $75.21 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year.

Institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its position in shares of 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 purchasing an additional 11,410 shares in the last quarter. State Street Corp boosted its position in shares of 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. ARK Investment Management LLC bought a new stake in shares of Ceragon Networks during the 4th quarter valued at about $245,000. Macquarie Group Ltd. acquired a new position in Ceragon Networks during the 3rd quarter worth approximately $743,000. Finally, Systematic Financial Management LP raised 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 worth $1,018,000 after buying an additional 42,275 shares during the period. Institutional investors own 14.15% of the company’s stock.

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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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