Ceragon Networks Ltd. (NASDAQ:CRNT) issued its quarterly earnings data on Monday. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01, Morningstar.com reports. Ceragon Networks had a net margin of 3.79% and a return on equity of 10.27%. The company had revenue of $93.30 million during the quarter, compared to the consensus estimate of $87.84 million. During the same quarter last year, the company earned $0.02 earnings per share. Ceragon Networks’s revenue for the quarter was up 33.3% on a year-over-year basis.

Ceragon Networks (NASDAQ:CRNT) traded up 2.24% during mid-day trading on Monday, hitting $2.28. 804,710 shares of the stock were exchanged. Ceragon Networks has a one year low of $1.89 and a one year high of $4.23. The company has a market cap of $177.37 million, a P/E ratio of 15.10 and a beta of 1.13. The company has a 50-day moving average price of $2.58 and a 200-day moving average price of $3.16.

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Several hedge funds and other institutional investors have recently modified their holdings of CRNT. Russell Investments Group Ltd. acquired a new position in shares of Ceragon Networks during the fourth quarter worth approximately $143,000. State of New Jersey Common Pension Fund D raised its position in shares of Ceragon Networks by 64.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock worth $155,000 after buying an additional 23,880 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Ceragon Networks by 51.8% in the first quarter. Parametric Portfolio Associates LLC now owns 47,722 shares of the communications equipment provider’s stock worth $156,000 after buying an additional 16,294 shares during the period. Eagle Global Advisors LLC raised its position in shares of Ceragon Networks by 113.0% in the second quarter. Eagle Global Advisors LLC now owns 98,000 shares of the communications equipment provider’s stock worth $250,000 after buying an additional 52,000 shares during the period. Finally, Spark Investment Management LLC acquired a new position in shares of Ceragon Networks during the second quarter worth approximately $305,000. Institutional investors own 22.27% of the company’s stock.

CRNT has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Ceragon Networks in a research report on Thursday, May 11th. Four investment analysts have rated the stock with a hold rating, Ceragon Networks has a consensus rating of “Hold” and a consensus target price of $3.25.

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.

Earnings History for Ceragon Networks (NASDAQ:CRNT)

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