Ceragon Networks (CRNT) Posts Earnings Results, Beats Expectations By $0.01 EPS
Ceragon Networks (NASDAQ:CRNT) issued its quarterly earnings results on Monday. The communications equipment provider reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01, Morningstar.com reports. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. The company had revenue of $86.70 million during the quarter, compared to the consensus estimate of $75.21 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis.
Ceragon Networks (NASDAQ:CRNT) opened at $2.49 on Tuesday. The stock has a market cap of $162.68, a P/E ratio of 10.45 and a beta of 1.01. Ceragon Networks has a 12-month low of $1.64 and a 12-month high of $4.23.
A number of analysts have recently weighed in on CRNT shares. Zacks Investment Research downgraded shares of Ceragon Networks from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. ValuEngine raised shares of Ceragon Networks from a “hold” rating to a “buy” rating in a report on Tuesday, December 5th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Ceragon Networks in a report on Monday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $2.50.
Ceragon Networks Company Profile
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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