Ceragon Networks (NASDAQ:CRNT) released its quarterly earnings data on Sunday. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03, MarketWatch Earnings reports. Ceragon Networks had a negative net margin of 5.72% and a negative return on equity of 10.43%.
CRNT stock traded down $0.02 during mid-day trading on Tuesday, hitting $3.31. 66,514 shares of the company were exchanged, compared to its average volume of 3,915,574. The firm has a market capitalization of $275.73 million, a P/E ratio of -17.53, a PEG ratio of 8.08 and a beta of 2.03. The business has a fifty day simple moving average of $3.79 and a 200-day simple moving average of $3.58. Ceragon Networks has a 12-month low of $1.95 and a 12-month high of $6.90.
Several research analysts have weighed in on the stock. Needham & Company LLC raised shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research note on Tuesday. Zacks Investment Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Monday, April 12th. Finally, Oppenheimer raised shares of Ceragon Networks from a “market perform” rating to an “outperform” rating in a research note on Monday, March 1st.
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small/distributed cells, and the core of the service provider's network.
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