FY2024 EPS Estimate for Ceragon Networks Lowered by Analyst

Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) - Equities researchers at Litchfield Hills Research reduced their FY2024 earnings per share estimates for shares of Ceragon Networks in a note issued to investors on Thursday, February 6th. Litchfield Hills Research analyst T. O'neill now expects that the communications equipment provider will post earnings per share of $0.41 for the year, down from their previous forecast of $0.43. Litchfield Hills Research has a "Buy" rating and a $10.00 price target 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.

Several other brokerages have also recently weighed in on CRNT. Roth Mkm initiated coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They set a "buy" rating and a $4.50 price target for the company. Needham & Company LLC restated a "buy" rating and set a $6.00 price target on shares of Ceragon Networks in a report on Thursday, January 16th. Finally, Roth Capital raised 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $6.83.

Ceragon Networks Trading Down 4.1 %

Shares of NASDAQ:CRNT traded down $0.21 during trading on Friday, reaching $4.81. 2,932,143 shares of the company traded hands, compared to its average volume of 2,274,737. Ceragon Networks has a 52-week low of $2.33 and a 52-week high of $5.73. The business's fifty day moving average is $4.70 and its 200-day moving average is $3.47. The firm has a market capitalization of $410.44 million, a price-to-earnings ratio of 21.84 and a beta of 1.59.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC purchased a new stake in Ceragon Networks in the fourth quarter worth about $58,000. Bravias Capital Group LLC bought a new position in shares of Ceragon Networks in the 4th quarter worth approximately $71,000. Perigon Wealth Management LLC purchased a new position in shares of Ceragon Networks in the 4th quarter valued at approximately $90,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ceragon Networks during the second quarter valued at approximately $56,000. Finally, Sei Investments Co. grew its stake in Ceragon Networks by 45.7% in the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider's stock worth $69,000 after purchasing an additional 8,607 shares during the period. Institutional investors own 13.31% of the company's stock.

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.