Cellcom Israel (NYSE:CEL) Announces Quarterly Earnings Results

Cellcom Israel (NYSE:CEL) issued its earnings results on Tuesday, May 28th. The technology company reported ($0.04) earnings per share for the quarter, Morningstar.com reports. Cellcom Israel had a negative return on equity of 5.02% and a negative net margin of 2.26%. The firm had revenue of $256.00 million during the quarter.

Shares of NYSE:CEL traded down $0.03 during trading on Thursday, reaching $3.00. The company’s stock had a trading volume of 13,500 shares, compared to its average volume of 14,456. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 2.20. Cellcom Israel has a 12 month low of $2.88 and a 12 month high of $7.23.

Several large investors have recently made changes to their positions in CEL. Pensionmark Financial Group LLC bought a new position in shares of Cellcom Israel in the 4th quarter valued at about $64,000. ARK Investment Management LLC raised its position in Cellcom Israel by 6.9% in the 1st quarter. ARK Investment Management LLC now owns 84,977 shares of the technology company’s stock worth $308,000 after purchasing an additional 5,516 shares during the period. Jane Street Group LLC raised its position in Cellcom Israel by 100.4% in the 4th quarter. Jane Street Group LLC now owns 65,878 shares of the technology company’s stock worth $387,000 after purchasing an additional 33,006 shares during the period. Delek Group Ltd. raised its position in Cellcom Israel by 46.6% in the 4th quarter. Delek Group Ltd. now owns 1,001,107 shares of the technology company’s stock worth $5,727,000 after purchasing an additional 318,406 shares during the period. Finally, Norges Bank purchased a new stake in Cellcom Israel in the 4th quarter worth about $7,568,000. 6.62% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on CEL shares. TheStreet downgraded shares of Cellcom Israel from a “c-” rating to a “d” rating in a report on Tuesday, April 16th. ValuEngine downgraded shares of Cellcom Israel from a “hold” rating to a “sell” rating in a report on Friday, June 7th.

About Cellcom Israel

Cellcom Israel Ltd. provides cellular and landline telecommunications services in Israel. It operates through two segments, Cellular and Fixed-line. The company offers basic cellular telephony services, such as voice mail, cellular fax, call waiting, call forwarding, caller identification, conference calling, and inbound and outbound roaming services; and data transfer, and upload and download services.

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Earnings History for Cellcom Israel (NYSE:CEL)

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