Ceragon Networks (CRNT) Receives “Hold” Rating from Oppenheimer

Oppenheimer reiterated their hold rating on shares of Ceragon Networks (NASDAQ:CRNT) in a report published on Monday morning. Oppenheimer also issued estimates for Ceragon Networks’ Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.05 EPS, FY2018 earnings at $0.20 EPS and FY2019 earnings at $0.22 EPS.

Several other equities analysts also recently commented on CRNT. ValuEngine upgraded shares of Ceragon Networks from a hold rating to a buy rating in a research note on Tuesday, December 5th. Zacks Investment Research upgraded shares of Ceragon Networks from a sell rating to a hold rating in a research note on Monday, January 8th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Ceragon Networks has an average rating of Hold and a consensus price target of $2.50.

Ceragon Networks (NASDAQ:CRNT) opened at $2.41 on Monday. Ceragon Networks has a twelve month low of $1.64 and a twelve month high of $4.20. The company has a market capitalization of $205.88, a P/E ratio of 14.69 and a beta of 1.01.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly 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 11.57% and a net margin of 4.69%. The company had revenue of $86.70 million for the quarter, compared to the consensus estimate of $75.21 million. During the same quarter last year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities research analysts expect that Ceragon Networks will post 0.2 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Two Sigma Advisers LP grew its stake in shares of Ceragon Networks by 155.3% in the fourth quarter. Two Sigma Advisers LP now owns 86,300 shares of the communications equipment provider’s stock worth $171,000 after acquiring an additional 52,500 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Ceragon Networks in the fourth quarter worth $275,000. Renaissance Technologies LLC grew its stake in shares of Ceragon Networks by 10.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,758,880 shares of the communications equipment provider’s stock worth $5,463,000 after acquiring an additional 257,180 shares during the last quarter. ARK Investment Management LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter worth $245,000. Finally, Algert Global LLC grew its stake in shares of Ceragon Networks by 44.8% in the third quarter. Algert Global LLC now owns 747,633 shares of the communications equipment provider’s stock worth $1,555,000 after acquiring an additional 231,314 shares during the last quarter. Institutional investors and hedge funds 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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