Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been given a consensus broker rating score of 2.67 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company.
Analysts have set a 12 month consensus price objective of $2.50 for the company and are forecasting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given Ceragon Networks an industry rank of 99 out of 265 based on the ratings given to related companies.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Ceragon Networks from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Jefferies Group increased their price objective on Ceragon Networks to $2.50 in a report on Tuesday, November 15th. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price objective (up from $2.50) on shares of Ceragon Networks in a report on Monday, October 24th. Finally, TheStreet upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, August 8th.
Shares of Ceragon Networks (NASDAQ:CRNT) remained flat at $2.39 on Friday. The company had a trading volume of 55,270 shares. The firm has a 50 day moving average price of $2.37 and a 200-day moving average price of $2.13. The stock has a market capitalization of $185.73 million, a P/E ratio of 24.14 and a beta of 1.26. Ceragon Networks has a 12-month low of $0.89 and a 12-month high of $2.94.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Monday, November 14th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The business earned $79.13 million during the quarter, compared to the consensus estimate of $77.57 million. Ceragon Networks had a return on equity of 6.93% and a net margin of 3.23%. Ceragon Networks’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. Analysts predict that Ceragon Networks will post $0.14 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brandes Investment Partners LP bought a new position in Ceragon Networks during the third quarter worth $126,000. Emerald Acquisition Ltd. bought a new position in Ceragon Networks during the third quarter worth $150,000. KCG Holdings Inc. increased its position in Ceragon Networks by 165.3% in the second quarter. KCG Holdings Inc. now owns 66,716 shares of the company’s stock worth $108,000 after buying an additional 41,568 shares in the last quarter. Panagora Asset Management Inc. bought a new position in Ceragon Networks during the third quarter worth $207,000. Finally, Essex Investment Management Co. LLC bought a new position in Ceragon Networks during the third quarter worth $617,000. Hedge funds and other institutional investors own 15.38% of the company’s stock.
Ceragon Networks Company Profile
Ceragon Networks Ltd. is a provider of wireless backhaul solutions. The Company’s solutions enable cellular operators and other wireless service providers to deliver voice and data services, enabling smart-phone applications, such as Internet browsing, social networking applications, image sharing, music and video applications.