Analysts Set Expectations for CRNT FY2024 Earnings

Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) - Research analysts at Litchfield Hills Research issued their FY2024 EPS estimates for shares of Ceragon Networks in a note issued to investors on Tuesday, December 3rd. Litchfield Hills Research analyst T. O'neill forecasts that the communications equipment provider will post earnings of $0.43 per share for the year. 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 $0.31 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 subject of several other research reports. Roth Capital upgraded Ceragon Networks to a "strong-buy" rating in a research report on Monday, October 28th. Roth Mkm initiated coverage on Ceragon Networks in a research report on Monday, October 28th. They set a "buy" rating and a $4.50 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $6.00 target price (up previously from $4.50) on shares of Ceragon Networks in a report on Wednesday. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Ceragon Networks currently has a consensus rating of "Buy" and a consensus target price of $6.83.

Ceragon Networks Stock Performance

Shares of CRNT stock traded up $0.07 on Friday, hitting $4.30. The stock had a trading volume of 964,215 shares, compared to its average volume of 561,190. Ceragon Networks has a 52-week low of $1.83 and a 52-week high of $4.70. The stock's 50 day moving average is $2.94 and its 200-day moving average is $2.77. The firm has a market capitalization of $367.30 million, a price-to-earnings ratio of 19.55 and a beta of 1.61.

Hedge Funds Weigh In On Ceragon Networks

Several large investors have recently bought and sold shares of CRNT. WINTON GROUP Ltd acquired a new stake in Ceragon Networks in the 2nd quarter valued at $26,000. Cubist Systematic Strategies LLC bought a new position in Ceragon Networks in the second quarter valued at about $56,000. Sei Investments Co. raised its stake 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 last quarter. XTX Topco Ltd bought a new stake in Ceragon Networks in the third quarter valued at about $152,000. Finally, Walleye Capital LLC boosted its position in shares of Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider's stock worth $778,000 after purchasing an additional 138,411 shares in the last quarter. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.