Cambium Networks (NASDAQ:CMBM) Updates FY22 Earnings Guidance

Cambium Networks (NASDAQ:CMBMGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share guidance of $0.28-$0.70 for the period, compared to the consensus earnings per share estimate of $0.79. The company issued revenue guidance of $280-$300 million, compared to the consensus revenue estimate of $313.54 million.Cambium Networks also updated its Q2 guidance to $0.01-$0.11 EPS.

Several brokerages recently weighed in on CMBM. JPMorgan Chase & Co. upped their price target on Cambium Networks from $27.00 to $32.00 and gave the stock a neutral rating in a research note on Tuesday, February 22nd. TheStreet cut Cambium Networks from a c rating to a d+ rating in a research note on Friday, February 18th. The Goldman Sachs Group reduced their price target on Cambium Networks from $47.00 to $22.00 and set a buy rating on the stock in a research note on Thursday, April 14th. Zacks Investment Research cut Cambium Networks from a hold rating to a sell rating and set a $17.00 price target on the stock. in a research note on Friday. Finally, Jefferies Financial Group cut Cambium Networks from a buy rating to a hold rating and reduced their price target for the stock from $38.00 to $25.00 in a research note on Friday, March 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $36.10.

Shares of NASDAQ:CMBM traded down $2.53 during midday trading on Friday, reaching $13.62. 379,287 shares of the company’s stock traded hands, compared to its average volume of 158,011. The company has a market cap of $365.42 million, a price-to-earnings ratio of 24.76, a P/E/G ratio of 2.13 and a beta of 0.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.20. Cambium Networks has a one year low of $13.57 and a one year high of $61.41. The stock has a 50 day moving average of $20.93 and a 200 day moving average of $24.26.

Cambium Networks (NASDAQ:CMBMGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The business had revenue of $61.90 million for the quarter, compared to the consensus estimate of $62.42 million. Cambium Networks had a net margin of 11.14% and a return on equity of 38.12%. The company’s revenue for the quarter was down 30.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. Sell-side analysts predict that Cambium Networks will post 0.4 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in CMBM. Morgan Stanley grew its stake in shares of Cambium Networks by 428.8% during the 2nd quarter. Morgan Stanley now owns 221,925 shares of the company’s stock valued at $10,730,000 after purchasing an additional 179,954 shares during the period. Royal Bank of Canada grew its stake in shares of Cambium Networks by 131.7% during the 3rd quarter. Royal Bank of Canada now owns 20,995 shares of the company’s stock valued at $760,000 after purchasing an additional 11,934 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Cambium Networks by 536.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,107 shares of the company’s stock valued at $76,000 after purchasing an additional 1,776 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Cambium Networks by 34.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 31,453 shares of the company’s stock valued at $1,138,000 after purchasing an additional 7,996 shares during the period. Finally, American International Group Inc. grew its stake in shares of Cambium Networks by 15.8% during the 3rd quarter. American International Group Inc. now owns 5,819 shares of the company’s stock valued at $211,000 after purchasing an additional 796 shares during the period. Institutional investors and hedge funds own 88.03% of the company’s stock.

Cambium Networks Company Profile (Get Rating)

Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for commercial and government network operators. Its wireless fabric includes intelligent radios, smart antennas, radio frequency (RF) algorithms, wireless-aware switches, and cloud-based network management software.

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