Ceragon Networks (NASDAQ:CRNT) issued its quarterly earnings results on Sunday. The communications equipment provider reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03, MarketWatch Earnings reports. Ceragon Networks had a negative net margin of 5.72% and a negative return on equity of 10.43%.
CRNT stock remained flat at $$3.33 during trading on Tuesday. The company had a trading volume of 77,137 shares, compared to its average volume of 3,915,574. The company’s 50 day moving average price is $3.79 and its 200 day moving average price is $3.58. Ceragon Networks has a 12 month low of $1.95 and a 12 month high of $6.90. The company has a market capitalization of $277.39 million, a P/E ratio of -17.53, a price-to-earnings-growth ratio of 8.08 and a beta of 2.03.
Several research firms have recently commented on CRNT. Zacks Investment Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Monday, April 12th. Oppenheimer raised Ceragon Networks from a “market perform” rating to an “outperform” rating in a report on Monday, March 1st. Finally, Needham & Company LLC upgraded Ceragon Networks from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Tuesday.
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. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small/distributed cells, and the core of the service provider's network.
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