Ceragon Networks Ltd (CRNT) Given Average Recommendation of “Buy” by Brokerages

Ceragon Networks Ltd (NASDAQ:CRNT) has earned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.63.

CRNT has been the subject of a number of research analyst reports. CIBC upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating in a report on Friday, September 28th. Oppenheimer reiterated a “hold” rating on shares of Ceragon Networks in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, October 1st. UBS Group upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating in a report on Friday, September 28th. Finally, BidaskClub upgraded shares of Ceragon Networks from a “strong sell” rating to a “sell” rating in a report on Sunday, September 30th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. increased its holdings in shares of Ceragon Networks by 1,581.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 36,475 shares of the communications equipment provider’s stock valued at $123,000 after purchasing an additional 34,306 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Ceragon Networks by 221.1% in the 2nd quarter. Jane Street Group LLC now owns 50,518 shares of the communications equipment provider’s stock valued at $180,000 after purchasing an additional 34,787 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Ceragon Networks in the 2nd quarter valued at about $279,000. BlackRock Inc. purchased a new position in shares of Ceragon Networks in the 2nd quarter valued at about $286,000. Finally, GSA Capital Partners LLP purchased a new position in Ceragon Networks during the 3rd quarter valued at about $404,000. Institutional investors and hedge funds own 24.65% of the company’s stock.

CRNT stock opened at $4.40 on Tuesday. Ceragon Networks has a one year low of $1.73 and a one year high of $4.95. The firm has a market capitalization of $340.69 million, a PE ratio of 24.44, a PEG ratio of 1.61 and a beta of 0.73.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Monday, November 5th. The communications equipment provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. Ceragon Networks had a net margin of 5.41% and a return on equity of 11.15%. The company had revenue of $86.53 million during the quarter, compared to analysts’ expectations of $82.59 million. Equities research analysts expect that Ceragon Networks will post 0.18 earnings per share for the current fiscal year.

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 radio 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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