Ceragon Networks Ltd (NASDAQ:CRNT) Receives $3.83 Average PT from Brokerages

Ceragon Networks Ltd (NASDAQ:CRNT) has earned a consensus recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $3.83.

A number of research firms recently commented on CRNT. Zacks Investment Research raised shares of Ceragon Networks from a “sell” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Monday, July 8th. Oppenheimer set a $4.00 price target on shares of Ceragon Networks and gave the stock a “buy” rating in a report on Wednesday, July 3rd. ValuEngine raised shares of Ceragon Networks from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. TheStreet cut shares of Ceragon Networks from a “b” rating to a “c+” rating in a report on Friday, May 10th. Finally, BidaskClub cut shares of Ceragon Networks from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Shares of NASDAQ:CRNT traded down $0.04 during mid-day trading on Friday, reaching $2.83. The company had a trading volume of 487,177 shares, compared to its average volume of 633,168. The stock has a market capitalization of $230.00 million, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. The company has a 50-day simple moving average of $2.83. Ceragon Networks has a one year low of $2.45 and a one year high of $5.04.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $73.74 million. Ceragon Networks had a net margin of 6.61% and a return on equity of 9.63%. As a group, sell-side analysts forecast that Ceragon Networks will post 0.22 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of CRNT. BlackRock Inc. raised its holdings in Ceragon Networks by 34.4% during the 4th quarter. BlackRock Inc. now owns 130,328 shares of the communications equipment provider’s stock valued at $493,000 after acquiring an additional 33,344 shares during the period. Two Sigma Advisers LP raised its holdings in Ceragon Networks by 50.9% during the 4th quarter. Two Sigma Advisers LP now owns 453,600 shares of the communications equipment provider’s stock valued at $1,715,000 after acquiring an additional 153,100 shares during the period. Millennium Management LLC grew its position in shares of Ceragon Networks by 20.5% during the 4th quarter. Millennium Management LLC now owns 468,093 shares of the communications equipment provider’s stock valued at $1,769,000 after purchasing an additional 79,725 shares in the last quarter. Deutsche Bank AG grew its position in shares of Ceragon Networks by 73.4% during the 4th quarter. Deutsche Bank AG now owns 393,939 shares of the communications equipment provider’s stock valued at $1,489,000 after purchasing an additional 166,772 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Ceragon Networks during the 1st quarter valued at $54,000. 20.28% of the stock is currently owned by institutional investors and hedge funds.

About Ceragon Networks

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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Analyst Recommendations for Ceragon Networks (NASDAQ:CRNT)

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