Ceragon Networks Ltd. (CRNT) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ceragon Networks Ltd. (NASDAQ:CRNT) released its quarterly earnings data on Monday, August 7th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01, Morningstar.com reports. Ceragon Networks had a net margin of 5.00% and a return on equity of 13.52%. The company had revenue of $93.30 million for the quarter, compared to analysts’ expectations of $87.84 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis.

Shares of Ceragon Networks (CRNT) traded up 1.46% during trading on Friday, hitting $2.09. 239,357 shares of the stock were exchanged. The company has a market cap of $162.79 million, a price-to-earnings ratio of 9.81 and a beta of 1.13. The firm has a 50 day moving average of $2.43 and a 200-day moving average of $3.04. Ceragon Networks has a 12-month low of $1.95 and a 12-month high of $4.23.

A number of analysts have weighed in on CRNT shares. Zacks Investment Research cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Ceragon Networks in a report on Tuesday, August 8th. Four analysts have rated the stock with a hold rating, Ceragon Networks has a consensus rating of “Hold” and a consensus target price of $2.83.

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Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Ceragon Networks during the fourth quarter valued at about $143,000. Parametric Portfolio Associates LLC raised its stake in Ceragon Networks by 23.9% in the second quarter. Parametric Portfolio Associates LLC now owns 59,132 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 11,410 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in 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 valued at $155,000 after buying an additional 23,880 shares in the last quarter. State Street Corp raised its stake in Ceragon Networks by 1.6% in the second quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock valued at $195,000 after buying an additional 1,205 shares in the last quarter. Finally, Eagle Global Advisors LLC raised its stake in 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 valued at $250,000 after buying an additional 52,000 shares in the last quarter. 22.48% of the stock is currently owned by institutional investors and hedge funds.

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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