FY2024 EPS Forecast for Ceragon Networks Lowered by Analyst

Ceragon Networks Ltd. (NASDAQ:CRNT) – Investment analysts at Litchfield Hills Research decreased their FY2024 earnings per share (EPS) estimates for Ceragon Networks in a report released on Thursday, February 6th. Litchfield Hills Research analyst T. O’neill now anticipates that the communications equipment provider will post earnings per share of $0.41 for the year, down from their prior forecast of $0.43. Litchfield Hills Research currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Ceragon Networks’ current full-year earnings is $0.35 per share. Litchfield Hills Research also issued estimates for Ceragon Networks’ Q4 2024 earnings at $0.09 EPS.

A number of other equities research analysts also recently issued reports on CRNT. Roth Mkm initiated coverage on shares of Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research note on Thursday, January 16th. Finally, Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ceragon Networks presently has a consensus rating of “Buy” and an average target price of $6.83.

Ceragon Networks Stock Down 2.2 %

Shares of NASDAQ CRNT opened at $5.25 on Friday. The company has a market cap of $448.46 million, a P/E ratio of 23.86 and a beta of 1.59. Ceragon Networks has a 52 week low of $2.33 and a 52 week high of $5.73. The business has a 50-day simple moving average of $4.69 and a two-hundred day simple moving average of $3.44.

Institutional Investors Weigh In On Ceragon Networks

Several hedge funds have recently bought and sold shares of CRNT. Bravias Capital Group LLC purchased a new stake in shares of Ceragon Networks during the 4th quarter valued at $71,000. Navellier & Associates Inc. bought a new position in Ceragon Networks in the fourth quarter valued at $1,804,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Ceragon Networks in the fourth quarter valued at $166,000. State of New Jersey Common Pension Fund D purchased a new stake in Ceragon Networks during the fourth quarter valued at about $182,000. Finally, Perigon Wealth Management LLC bought a new stake in Ceragon Networks during the fourth quarter worth about $90,000. 13.31% of the stock is currently owned by institutional investors.

Ceragon Networks Company Profile

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.