Oppenheimer Comments on Ceragon Networks Ltd.’s Q1 2023 Earnings (NASDAQ:CRNT)

Ceragon Networks Ltd. (NASDAQ:CRNTGet Rating) – Research analysts at Oppenheimer issued their Q1 2023 earnings per share estimates for shares of Ceragon Networks in a research report issued to clients and investors on Monday, August 1st. Oppenheimer analyst G. Iwanyc expects that the communications equipment provider will post earnings per share of $0.00 for the quarter. The consensus estimate for Ceragon Networks’ current full-year earnings is ($0.01) per share. Oppenheimer also issued estimates for Ceragon Networks’ Q2 2023 earnings at $0.01 EPS, Q3 2023 earnings at $0.03 EPS and Q4 2023 earnings at $0.05 EPS.

Ceragon Networks Price Performance

CRNT opened at $2.76 on Wednesday. The business has a 50 day simple moving average of $2.26 and a 200-day simple moving average of $2.11. The stock has a market capitalization of $231.85 million, a P/E ratio of -13.80 and a beta of 1.24. Ceragon Networks has a 12 month low of $1.53 and a 12 month high of $4.33.

Ceragon Networks (NASDAQ:CRNTGet Rating) last posted its quarterly earnings data on Monday, August 1st. The communications equipment provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Ceragon Networks had a negative return on equity of 5.96% and a negative net margin of 5.34%. During the same quarter in the previous year, the business posted ($0.02) earnings per share.

Institutional Trading of Ceragon Networks

Several hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC raised its holdings in Ceragon Networks by 39.6% during the fourth quarter. Penserra Capital Management LLC now owns 2,414,344 shares of the communications equipment provider’s stock worth $6,229,000 after purchasing an additional 685,369 shares during the last quarter. Millrace Asset Group Inc. acquired a new position in Ceragon Networks during the second quarter worth $1,706,000. Goldman Sachs Group Inc. raised its holdings in Ceragon Networks by 772.5% during the first quarter. Goldman Sachs Group Inc. now owns 543,037 shares of the communications equipment provider’s stock worth $1,157,000 after purchasing an additional 480,796 shares during the last quarter. ARK Investment Management LLC raised its holdings in Ceragon Networks by 23.1% during the first quarter. ARK Investment Management LLC now owns 1,113,434 shares of the communications equipment provider’s stock worth $2,372,000 after purchasing an additional 209,040 shares during the last quarter. Finally, First Eagle Investment Management LLC acquired a new position in Ceragon Networks during the first quarter worth $406,000. 23.38% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Company Profile

(Get Rating)

Ceragon Networks Ltd. provides wireless backhaul and fronthaul solutions that enable cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the core of the service provider's network.

See Also

Earnings History and Estimates for Ceragon Networks (NASDAQ:CRNT)

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