Ceragon Networks Ltd. (NASDAQ:CRNT – Free Report) – Stock analysts at Litchfield Hills Research issued their FY2024 earnings per share (EPS) estimates for Ceragon Networks in a report released on Tuesday, December 3rd. Litchfield Hills Research analyst T. O’neill expects that the communications equipment provider will earn $0.43 per share for the year. Litchfield Hills Research has a “Buy” rating and a $10.00 price objective 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 $0.11 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.10 EPS, Q3 2025 earnings at $0.09 EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at $0.39 EPS.
CRNT has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 target price (up from $4.50) on shares of Ceragon Networks in a report on Wednesday. Roth Mkm started coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective for the company. Finally, Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Ceragon Networks presently has an average rating of “Buy” and an average price target of $6.83.
Ceragon Networks Price Performance
Shares of NASDAQ:CRNT opened at $4.30 on Friday. The firm’s 50 day simple moving average is $2.97 and its 200 day simple moving average is $2.78. Ceragon Networks has a fifty-two week low of $1.83 and a fifty-two week high of $4.70. The company has a market capitalization of $367.31 million, a price-to-earnings ratio of 19.55 and a beta of 1.61.
Institutional Investors Weigh In On Ceragon Networks
Several large investors have recently made changes to their positions in CRNT. WINTON GROUP Ltd acquired a new position in Ceragon Networks in the 2nd quarter worth $26,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ceragon Networks in the second quarter valued at about $56,000. Sei Investments Co. boosted its position in shares of Ceragon Networks by 45.7% during the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 8,607 shares during the period. XTX Topco Ltd bought a new position in shares of Ceragon Networks during the third quarter worth about $152,000. Finally, Walleye Capital LLC raised its position in Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after buying an additional 138,411 shares during the last quarter. Institutional investors own 13.31% of the company’s stock.
About Ceragon Networks
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.
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