Ceragon Networks (CRNT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ceragon Networks (NASDAQ:CRNT) from a sell rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “Ceragon Networks Ltd. is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon’s modular FibeAir product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. “

Several other analysts have also weighed in on the company. ValuEngine raised Ceragon Networks from a hold rating to a buy rating in a report on Tuesday, December 5th. Jefferies Group reissued a hold rating and issued a $2.50 target price on shares of Ceragon Networks in a report on Sunday, October 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ceragon Networks has a consensus rating of Hold and a consensus target price of $2.50.

Ceragon Networks (CRNT) traded up $0.07 during trading on Monday, reaching $2.15. The company’s stock had a trading volume of 305,884 shares, compared to its average volume of 368,544. The firm has a market capitalization of $167.57, a price-to-earnings ratio of 10.24 and a beta of 1.05. 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, November 6th. The communications equipment provider reported $0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The company had revenue of $75.99 million for 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 quarter in the prior year, the company earned $0.06 earnings per share. research analysts predict that Ceragon Networks will post 0.18 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of CRNT. Macquarie Group Ltd. acquired a new stake in shares of Ceragon Networks during the third quarter valued at $743,000. Algert Global LLC boosted its stake in shares of Ceragon Networks by 44.8% during the third quarter. Algert Global LLC now owns 747,633 shares of the communications equipment provider’s stock valued at $1,555,000 after acquiring an additional 231,314 shares during the last quarter. BT Investment Management Ltd acquired a new stake in shares of Ceragon Networks during the second quarter valued at $506,000. Menta Capital LLC acquired a new stake in shares of Ceragon Networks during the second quarter valued at $408,000. Finally, Vanguard Group Inc. boosted its stake in shares of Ceragon Networks by 5.0% during the second 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 during the last quarter. 16.09% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Ceragon Networks (CRNT) Upgraded at Zacks Investment Research” was first published by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://www.themarketsdaily.com/2018/01/13/ceragon-networks-crnt-upgraded-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Ceragon Networks (CRNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ceragon Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceragon Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply