Ceragon Networks Ltd (CRNT) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $0.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.00. The company posted revenue of $70.01 million in the period, compared to analysts expectations of $67.59 million. The company’s revenue was down -26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.
Many Wall Street Analysts have commented on Ceragon Networks Ltd. Company shares were Reiterated by Needham on Jul 18, 2016 to “Buy”, Firm has raised the Price Target to $ 2.50 from a previous price target of $2 .
Ceragon Networks Ltd opened for trading at $2.18 and hit $2.29 on the upside on Friday, eventually ending the session at $2.29, with a gain of 4.57% or 0.1 points. The heightened volatility saw the trading volume jump to 6,18,693 shares. Company has a market cap of $178 M.
Ceragon Networks Ltd. is a provider of wireless backhaul solutions. The Company’s solutions enable cellular operators and other wireless service providers to deliver voice and data services enabling smart-phone applications such as Internet browsing social networking applications image sharing music and video applications. The Company also provides its solutions for hauling application in other vertical markets like public safety and oil and gas offshore drilling platforms. Its wireless backhaul solutions use microwave radio technology to transfer large amounts of telecommunication traffic between base stations and small-cells and the core of the service provider’s network. It also provides wireless fronthaul solutions that use microwave technology. In addition to providing its solutions the Company also offers its customers a set of turn-key services including advanced network and radio planning site survey solutions development installation maintenance training and more.