Zacks Investment Research lowered shares of Ceragon Networks (NASDAQ:CRNT) from a buy rating to a hold rating in a report published on Thursday morning.
According to Zacks, “Ceragon Networks Ltd. is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon’s modular FibeAir product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. “
Separately, Oppenheimer reissued a hold rating on shares of Ceragon Networks in a research report on Monday, February 12th.
CRNT opened at $2.61 on Thursday. The firm has a market capitalization of $203.92, a PE ratio of 14.50 and a beta of 0.64. Ceragon Networks has a 12 month low of $1.64 and a 12 month high of $3.65.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, February 12th. The communications equipment provider reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $86.70 million during the quarter, compared to analyst estimates of $75.21 million. Ceragon Networks had a return on equity of 11.57% and a net margin of 4.69%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. research analysts anticipate that Ceragon Networks will post 0.2 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in CRNT. Two Sigma Advisers LP grew its stake in Ceragon Networks by 155.3% during the 4th quarter. Two Sigma Advisers LP now owns 86,300 shares of the communications equipment provider’s stock worth $171,000 after buying an additional 52,500 shares during the last quarter. State Street Corp grew its stake in Ceragon Networks by 1.6% during the 2nd quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock worth $195,000 after buying an additional 1,205 shares during the last quarter. ARK Investment Management LLC purchased a new position in Ceragon Networks during the 4th quarter worth $245,000. Deutsche Bank AG purchased a new position in Ceragon Networks during the 4th quarter worth $275,000. Finally, Macquarie Group Ltd. purchased a new position in Ceragon Networks during the 3rd quarter worth $743,000. Hedge funds and other institutional investors own 16.82% of the company’s stock.
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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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