Roth Capital Has Optimistic Outlook of CRNT FY2024 Earnings

Ceragon Networks Ltd. (NASDAQ:CRNT) – Investment analysts at Roth Capital boosted their FY2024 EPS estimates for shares of Ceragon Networks in a research note issued to investors on Wednesday, November 13th. Roth Capital analyst S. Searle now expects that the communications equipment provider will earn $0.32 per share for the year, up from their previous estimate of $0.31. Roth Capital has a “Strong-Buy” rating on the stock. The consensus estimate for Ceragon Networks’ current full-year earnings is $0.28 per share. Roth Capital also issued estimates for Ceragon Networks’ Q1 2025 earnings at $0.07 EPS and Q2 2025 earnings at $0.09 EPS.

Several other research analysts also recently weighed in on CRNT. Roth Mkm assumed coverage on shares of Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $5.25 target price on shares of Ceragon Networks in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus target price of $4.88.

Ceragon Networks Price Performance

Shares of NASDAQ CRNT opened at $2.82 on Friday. The stock has a market cap of $240.88 million, a PE ratio of 12.82 and a beta of 1.35. Ceragon Networks has a 1 year low of $1.72 and a 1 year high of $3.38. The firm has a fifty day moving average price of $2.60 and a 200-day moving average price of $2.67.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently made changes to their positions in the company. Walleye Capital LLC raised its holdings in shares of Ceragon Networks by 95.1% during the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after acquiring an additional 138,411 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Ceragon Networks in the 2nd quarter worth $56,000. Sei Investments Co. grew its stake in shares of Ceragon Networks by 45.7% in the 2nd 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 in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Ceragon Networks by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock worth $1,610,000 after buying an additional 168,416 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Ceragon Networks during the 2nd quarter valued at about $26,000. 13.31% of the stock is owned by institutional investors.

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.