Ceragon Networks Ltd. to Post Q1 2017 Earnings of $0.03 Per Share, Jefferies Group Forecasts (CRNT)
Ceragon Networks Ltd. (NASDAQ:CRNT) – Jefferies Group raised their Q1 2017 earnings per share (EPS) estimates for Ceragon Networks in a report issued on Monday. Jefferies Group analyst J. Kisner now expects that the brokerage will post earnings of $0.03 per share for the quarter, up from their previous estimate of $0.02.
CRNT has been the topic of a number of other research reports. Zacks Investment Research lowered Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Needham & Company LLC restated a “buy” rating and set a $3.00 price target (up previously from $2.50) on shares of Ceragon Networks in a research note on Monday, October 24th. Finally, TheStreet upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, August 8th.
Shares of Ceragon Networks (NASDAQ:CRNT) opened at 2.37 on Thursday. The company has a market cap of $184.09 million, a PE ratio of 31.60 and a beta of 1.26. The firm’s 50-day moving average is $2.36 and its 200-day moving average is $2.10. Ceragon Networks has a 1-year low of $0.89 and a 1-year high of $2.94.
Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Monday, November 14th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Ceragon Networks had a net margin of 3.23% and a return on equity of 6.93%. The company had revenue of $79.13 million for the quarter, compared to analysts’ expectations of $77.57 million. During the same quarter last year, the business earned $0.05 EPS. The firm’s revenue was down 7.3% compared to the same quarter last year.
A number of large investors have recently modified their holdings of CRNT. Panagora Asset Management Inc. purchased a new stake in shares of Ceragon Networks during the third quarter worth approximately $207,000. KCG Holdings Inc. raised its stake in shares of Ceragon Networks by 132.6% in the third quarter. KCG Holdings Inc. now owns 155,199 shares of the company’s stock worth $366,000 after buying an additional 88,483 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Ceragon Networks during the third quarter worth approximately $126,000. Morgan Stanley raised its stake in shares of Ceragon Networks by 59.0% in the third quarter. Morgan Stanley now owns 309,796 shares of the company’s stock worth $731,000 after buying an additional 114,991 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Ceragon Networks during the third quarter worth approximately $150,000. Hedge funds and other institutional investors own 14.80% 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.
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