Ceragon Networks Ltd. (CRNT) Expected to Announce Earnings of $0.06 Per Share

Wall Street brokerages expect that Ceragon Networks Ltd. (NASDAQ:CRNT) will announce earnings per share of $0.06 for the current quarter, Zacks reports. Two analysts have issued estimates for Ceragon Networks’ earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at $0.06. Ceragon Networks posted earnings per share of $0.02 during the same quarter last year, which indicates a positive year-over-year growth rate of 200%. The company is expected to announce its next quarterly earnings report on Monday, August 14th.

According to Zacks, analysts expect that Ceragon Networks will report full-year earnings of $0.21 per share for the current year. For the next fiscal year, analysts anticipate that the company will post earnings of $0.26 per share, with EPS estimates ranging from $0.22 to $0.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Ceragon Networks.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Thursday, May 11th. The communications equipment provider reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $76.02 million during the quarter, compared to the consensus estimate of $74.09 million. Ceragon Networks had a return on equity of 10.27% and a net margin of 3.79%. Ceragon Networks’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share.

Several research analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ceragon Networks in a research report on Thursday, May 11th. Zacks Investment Research lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Finally, TheStreet lowered shares of Ceragon Networks from a “b-” rating to a “c+” rating in a report on Tuesday, March 14th. Four investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $3.25.

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Ceragon Networks during the fourth quarter worth approximately $143,000. Parametric Portfolio Associates LLC raised its stake in Ceragon Networks by 51.8% in the first quarter. Parametric Portfolio Associates LLC now owns 47,722 shares of the communications equipment provider’s stock worth $156,000 after buying an additional 16,294 shares in the last quarter. State Street Corp raised its stake in Ceragon Networks by 2.8% in the fourth quarter. State Street Corp now owns 73,409 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 1,978 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Ceragon Networks by 15.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 100,118 shares of the communications equipment provider’s stock worth $262,000 after buying an additional 13,732 shares in the last quarter. Finally, Oxford Asset Management raised its stake in Ceragon Networks by 863.5% in the fourth quarter. Oxford Asset Management now owns 104,303 shares of the communications equipment provider’s stock worth $273,000 after buying an additional 93,478 shares in the last quarter. 21.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Ceragon Networks (CRNT) traded up 0.37% during mid-day trading on Thursday, reaching $2.69. The company’s stock had a trading volume of 162,835 shares. Ceragon Networks has a 12 month low of $1.44 and a 12 month high of $4.23. The stock has a market capitalization of $209.27 million, a P/E ratio of 17.81 and a beta of 1.13. The company has a 50 day moving average price of $3.10 and a 200 day moving average price of $3.19.

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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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