Zacks: Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Average Rating of “Hold” from Analysts
Ceragon Networks Ltd. (NASDAQ:CRNT) has earned a consensus broker rating score of 2.67 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. Ceragon Networks’ rating score has improved by 11% from three months ago as a result of a number of analysts’ ratings changes.
Brokers have set a one year consensus price objective of $2.25 for the company and are anticipating that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ceragon Networks an industry rank of 178 out of 265 based on the ratings given to related companies.
Several analysts recently weighed in on CRNT shares. Needham & Company LLC upped their price target on Ceragon Networks from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Monday, July 18th. Zacks Investment Research downgraded Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. TheStreet upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Jefferies Group upped their price target on Ceragon Networks from $1.50 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, August 9th.
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Shares of Ceragon Networks (NASDAQ:CRNT) traded up 1.14% during mid-day trading on Monday, hitting $2.67. The company’s stock had a trading volume of 504,101 shares. The stock’s 50 day moving average price is $2.31 and its 200 day moving average price is $1.66. Ceragon Networks has a 52-week low of $0.89 and a 52-week high of $2.94. The company has a market cap of $207.39 million, a price-to-earnings ratio of 35.60 and a beta of 1.13.
Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Monday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter. Ceragon Networks had a return on equity of 5.78% and a net margin of 2.46%. The firm earned $70 million during the quarter, compared to analyst estimates of $67.59 million. During the same quarter in the prior year, the company earned $0.04 EPS. The business’s revenue was down 26.1% compared to the same quarter last year. Equities analysts forecast that Ceragon Networks will post $0.13 EPS for the current year.
Ceragon Networks Company Profile
Ceragon Networks Ltd. is a provider of wireless backhaul solutions. The Company’s solutions enable cellular operators and other wireless service providers to deliver voice and data services, enabling smart-phone applications, such as Internet browsing, social networking applications, image sharing, music and video applications.
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