FY2024 EPS Estimates for CRNT Decreased by Analyst

Ceragon Networks Ltd. (NASDAQ:CRNT) – Investment analysts at Litchfield Hills Research reduced their FY2024 earnings per share estimates for shares of Ceragon Networks in a research note issued on Thursday, February 6th. Litchfield Hills Research analyst T. O’neill now anticipates that the communications equipment provider will post earnings per share of $0.41 for the year, down from their previous estimate of $0.43. 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 $0.09 EPS.

Several other brokerages have also recently issued reports on CRNT. Roth Mkm started 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 on the stock. Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Trading Down 2.2 %

Shares of Ceragon Networks stock opened at $5.25 on Friday. The company’s fifty day simple moving average is $4.69 and its two-hundred day simple moving average is $3.44. Ceragon Networks has a 12-month low of $2.33 and a 12-month high of $5.73. The company has a market cap of $448.46 million, a P/E ratio of 23.86 and a beta of 1.59.

Institutional Investors Weigh In On Ceragon Networks

Several hedge funds have recently bought and sold shares of the business. Sei Investments Co. increased 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 valued at $69,000 after purchasing an additional 8,607 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks in the 2nd quarter worth approximately $56,000. Walleye Capital LLC increased its position in Ceragon Networks by 95.1% during 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 in the last quarter. XTX Topco Ltd purchased a new position in Ceragon Networks during the third quarter valued at $152,000. Finally, JPMorgan Chase & Co. bought a new stake in Ceragon Networks in the third quarter worth $104,000. 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.