Ceragon Networks (NASDAQ:CRNT) released its quarterly earnings results on Sunday. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03, MarketWatch Earnings reports. Ceragon Networks had a negative return on equity of 10.43% and a negative net margin of 5.72%.
NASDAQ:CRNT traded down $0.04 on Tuesday, hitting $3.29. 66,114 shares of the stock were exchanged, compared to its average volume of 3,915,574. The stock has a market capitalization of $274.06 million, a price-to-earnings ratio of -17.53, a P/E/G ratio of 8.08 and a beta of 2.03. Ceragon Networks has a 52 week low of $1.95 and a 52 week high of $6.90. The company’s 50-day moving average price is $3.79 and its 200 day moving average price is $3.58.
A number of research analysts recently issued reports on CRNT shares. Needham & Company LLC raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Tuesday. Oppenheimer raised Ceragon Networks from a “market perform” rating to an “outperform” rating in a report on Monday, March 1st. Finally, Zacks Investment Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Monday, April 12th.
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small/distributed cells, and the core of the service provider's network.
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