According to Zacks, “Ceragon Networks Ltd. is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon’s modular FibeAir product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. “
Several other research firms also recently weighed in on CRNT. ValuEngine raised Ceragon Networks from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. BidaskClub downgraded Ceragon Networks from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. TheStreet downgraded Ceragon Networks from a “b” rating to a “c+” rating in a report on Friday, May 10th. Finally, Oppenheimer set a $4.00 price objective on Ceragon Networks and gave the company a “buy” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $3.83.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Monday, August 12th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Ceragon Networks had a net margin of 6.14% and a return on equity of 8.44%. The firm had revenue of $73.00 million for the quarter, compared to analyst estimates of $72.62 million. As a group, research analysts anticipate that Ceragon Networks will post 0.22 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in CRNT. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ceragon Networks during the second quarter valued at approximately $33,000. First Wilshire Securities Management Inc. increased its stake in shares of Ceragon Networks by 106.5% during the second quarter. First Wilshire Securities Management Inc. now owns 1,484,215 shares of the communications equipment provider’s stock valued at $4,349,000 after purchasing an additional 765,350 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Ceragon Networks during the second quarter valued at approximately $457,000. ETF Managers Group LLC increased its stake in shares of Ceragon Networks by 37.6% during the second quarter. ETF Managers Group LLC now owns 107,421 shares of the communications equipment provider’s stock valued at $321,000 after purchasing an additional 29,332 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Ceragon Networks by 48.2% during the second quarter. BlackRock Inc. now owns 110,684 shares of the communications equipment provider’s stock valued at $324,000 after purchasing an additional 36,009 shares in the last quarter. 20.10% of the stock is currently owned by hedge funds and other institutional investors.
Ceragon Networks Company Profile
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
Featured Story: Compound Interest and Why It Matters When Investing
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ceragon Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceragon Networks and related companies with MarketBeat.com's FREE daily email newsletter.