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.

A number of hedge funds have recently added to or reduced their stakes in CRNT. Vanguard Group Inc. increased its position in Ceragon Networks by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,177,300 shares of the communications equipment provider’s stock worth $3,002,000 after purchasing an additional 55,702 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Ceragon Networks by 23.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,132 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 11,410 shares in the last quarter. State Street Corp increased its position 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 purchasing an additional 1,205 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Ceragon Networks by 6.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 406,991 shares of the communications equipment provider’s stock worth $1,038,000 after purchasing an additional 23,616 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in Ceragon Networks during the 3rd quarter worth approximately $743,000. Institutional investors and hedge funds own 14.15% of the company’s stock.

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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.

Earnings History for Ceragon Networks (NASDAQ:CRNT)

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