Ceragon Networks Ltd. (CRNT) Announces Quarterly Earnings Results
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.
ILLEGAL ACTIVITY WARNING: “Ceragon Networks Ltd. (CRNT) Announces Quarterly Earnings Results” was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.dailypolitical.com/2017/08/07/ceragon-networks-ltd-crnt-announces-quarterly-earnings-results.html.
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.
Receive News & Ratings for Ceragon Networks Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceragon Networks Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.