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.
TRADEMARK VIOLATION WARNING: This piece was reported by Stock Observer and is the property of of Stock Observer. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.thestockobserver.com/2017/06/20/ceragon-networks-ltd-crnt-expected-to-announce-earnings-of-0-06-per-share-updated.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ceragon Networks Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceragon Networks Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.