Ceragon Networks Ltd (NASDAQ:CRNT) Expected to Earn Q1 2020 Earnings of ($0.03) Per Share

Ceragon Networks Ltd (NASDAQ:CRNT) – Equities researchers at Oppenheimer dropped their Q1 2020 earnings estimates for Ceragon Networks in a note issued to investors on Monday, February 10th. Oppenheimer analyst G. Iwanyc now anticipates that the communications equipment provider will earn ($0.03) per share for the quarter, down from their previous estimate of ($0.01). Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Ceragon Networks’ Q2 2020 earnings at ($0.02) EPS and FY2020 earnings at ($0.05) EPS.

Several other equities analysts have also commented on CRNT. Needham & Company LLC reissued a “hold” rating on shares of Ceragon Networks in a research report on Monday, February 10th. ValuEngine raised Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research lowered Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $3.50.

Ceragon Networks stock opened at $1.92 on Thursday. The stock’s 50 day moving average price is $2.13 and its 200 day moving average price is $2.33. The firm has a market capitalization of $154.84 million, a PE ratio of -64.00, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. Ceragon Networks has a one year low of $1.67 and a one year high of $5.04.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, February 10th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The company had revenue of $71.26 million for the quarter, compared to analyst estimates of $72.16 million. Ceragon Networks had a negative return on equity of 1.21% and a negative net margin of 0.82%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC raised its position in shares of Ceragon Networks by 160.7% in the 4th quarter. Penserra Capital Management LLC now owns 576,960 shares of the communications equipment provider’s stock valued at $1,165,000 after purchasing an additional 355,617 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of Ceragon Networks by 8.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 188,310 shares of the communications equipment provider’s stock valued at $395,000 after purchasing an additional 15,000 shares in the last quarter. Nomura Holdings Inc. raised its position in shares of Ceragon Networks by 12.6% in the 3rd quarter. Nomura Holdings Inc. now owns 170,349 shares of the communications equipment provider’s stock valued at $443,000 after purchasing an additional 19,100 shares in the last quarter. BlackRock Inc. raised its position in shares of Ceragon Networks by 48.2% in the 2nd 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. Finally, Parametric Portfolio Associates LLC raised its position in shares of Ceragon Networks by 17.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 103,026 shares of the communications equipment provider’s stock valued at $302,000 after purchasing an additional 15,550 shares in the last quarter. 13.78% of the stock is currently owned by 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.

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