trends == focus on 5GBest 5G Penny Stock to Watch in 2019, No 2: Ceragon Networks Ltd.
The penny stock that has plenty of investors hyped up is Ceragon Networks Ltd. (NASDAQ: CRNT).
Ceragon Networks Ltd. is an Israel-based high-capacity communications systems manufacturer for wireless service providers with offices located throughout Europe, the Middle East, Africa, Asia, and North and South America.
With 5G expected to come to fruition in 2020, Ceragon has been rapidly developing 5G wireless backhaul technologies to handle higher capacities 100 times current cell sites. As for cell site grids, it expects them to be five times denser.
The company is focused on ultra-high capacity per end-device, integrating with the IoT, meeting the exponential growth of new devices and being able to handle augmented-reality applications.
Ceragon's customers range everything from government agencies to utility companies, public safety organizations, and wireless service providers. Back in late 2018, the company reported several multimillion-dollar-valued orders from North American mobile operators. But it didn't provide any concrete numbers.
This helped bump CRNT's total revenue to $343.9 million in 2018. That's up 3.6% from 2017.
But revenue will drop slightly to $343.3 million in 2019 as the company expands. However, by 2020, it expects it to jump to $353 million as CRNT continues to develop 5G wireless backhaul systems for mobile service providers across North America.
In CRNT's current quarter, sales were 7.5% lower than 2017's $83.3 million. In 2020, sales will jump back up for a 3% gain.
The company will also see a solid run on earnings. It's PEG ratio is 1.06. And in CRNT's most recent quarter, estimated earnings were up 9.1% to $0.24 per share. But it's expected to go up 18.18% to $0.26 by the end of the year.
CRNT shares currently trade for $3.76, and Money Morning says it could see gains of as much as 33% within the year.
With all of their 5G projects and efforts to optimize networks for 5G, Ceragon's future in the 5G industry is looking very bright.
While Ceragon shares are looking very solid, our No. 1 pick could see as much as 71% in gains over the next 12 months…
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