Jefferies Group LLC Reiterates “Hold” Rating for Ceragon Networks Ltd. (CRNT)
Ceragon Networks Ltd. (NASDAQ:CRNT)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a report issued on Sunday. They currently have a $2.50 price objective on the communications equipment provider’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 20.77% from the company’s current price.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Wednesday, August 9th. ValuEngine raised Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Ceragon Networks in a research report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Ceragon Networks presently has a consensus rating of “Hold” and an average price target of $2.67.
Shares of Ceragon Networks (NASDAQ CRNT) opened at 2.07 on Friday. The stock has a market cap of $161.23 million, a PE ratio of 9.72 and a beta of 1.25. Ceragon Networks has a 12-month low of $1.88 and a 12-month high of $4.23. The firm has a 50-day moving average price of $2.05 and a 200 day moving average price of $2.65.
Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Monday, August 7th. The communications equipment provider reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $93.30 million during the quarter, compared to the consensus estimate of $87.84 million. Ceragon Networks had a return on equity of 13.52% and a net margin of 5.00%. Ceragon Networks’s revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 earnings per share. Equities research analysts predict that Ceragon Networks will post $0.20 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of CRNT. Parametric Portfolio Associates LLC raised its position in Ceragon Networks by 51.8% during the first quarter. Parametric Portfolio Associates LLC now owns 47,722 shares of the communications equipment provider’s stock valued at $156,000 after buying an additional 16,294 shares during the period. United Services Automobile Association acquired a new position in Ceragon Networks during the first quarter valued at $1,050,000. Systematic Financial Management LP acquired a new position in Ceragon Networks during the first quarter valued at $1,579,000. UBS Group AG acquired a new position in Ceragon Networks during the first quarter valued at $965,000. Finally, Lazard Asset Management LLC acquired a new position in Ceragon Networks during the first quarter valued at $1,055,000. 20.64% of the stock is currently owned by hedge funds and other institutional investors.
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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