Ceragon Networks (NASDAQ:CRNT) posted its earnings results on Sunday. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.
Shares of CRNT stock remained flat at $$3.33 during trading hours on Tuesday. 2,155,906 shares of the stock traded hands, compared to its average volume of 3,894,787. The firm has a market capitalization of $277.39 million, a PE ratio of -17.53, a PEG ratio of 8.08 and a beta of 2.03. Ceragon Networks has a 52-week low of $1.95 and a 52-week high of $6.90. The business’s fifty day moving average is $3.77 and its two-hundred day moving average is $3.58.
CRNT has been the subject of a number of analyst reports. Oppenheimer upgraded shares of Ceragon Networks from a “market perform” rating to an “outperform” rating in a research report on Monday, March 1st. Needham & Company LLC upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Tuesday. Finally, 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.
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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