Ceragon Networks Ltd. (CRNT) Expected to Post Quarterly Sales of $88.77 Million
Brokerages predict that Ceragon Networks Ltd. (NASDAQ:CRNT) will post $88.77 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Ceragon Networks’ earnings. The lowest sales estimate is $88.20 million and the highest is $89.33 million. Ceragon Networks posted sales of $70.01 million in the same quarter last year, which suggests a positive year over year growth rate of 26.8%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Monday, August 7th.
On average, analysts expect that Ceragon Networks will report full-year sales of $88.77 million for the current year, with estimates ranging from $325.43 million to $327.30 million. For the next year, analysts anticipate that the company will report sales of $332.34 million per share, with estimates ranging from $325.57 million to $339.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ceragon Networks.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Thursday, May 11th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $76.02 million for the quarter, compared to analysts’ expectations of $74.09 million. Ceragon Networks had a net margin of 3.79% and a return on equity of 10.27%. The firm’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ceragon Networks in a research note on Thursday, May 11th. Four analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $3.25.
A number of hedge funds have recently made changes to their positions in CRNT. Acadian Asset Management LLC raised its stake in shares of Ceragon Networks by 0.5% in the first quarter. Acadian Asset Management LLC now owns 3,130,253 shares of the communications equipment provider’s stock worth $10,234,000 after buying an additional 15,385 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake 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 last quarter. State of New Jersey Common Pension Fund D raised its stake 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 last quarter. Eagle Global Advisors LLC raised its stake 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 last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $143,000. Hedge funds and other institutional investors own 21.56% of the company’s stock.
Ceragon Networks (CRNT) traded up 1.81% during mid-day trading on Monday, reaching $2.25. 468,291 shares of the company traded hands. The company has a market capitalization of $175.14 million, a P/E ratio of 15.00 and a beta of 1.14. Ceragon Networks has a 52-week low of $1.89 and a 52-week high of $4.23. The stock has a 50 day moving average price of $2.58 and a 200-day moving average price of $3.16.
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.
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