Barrington Research Analysts Cut Earnings Estimates for Cambium Networks Co. (NASDAQ:CMBM)

Cambium Networks Co. (NASDAQ:CMBMGet Rating) – Investment analysts at Barrington Research cut their Q3 2022 earnings per share estimates for shares of Cambium Networks in a research note issued on Monday, May 9th. Barrington Research analyst C. Howe now expects that the company will post earnings of $0.08 per share for the quarter, down from their previous forecast of $0.14. Barrington Research currently has a “Market Perform” rating on the stock. Barrington Research also issued estimates for Cambium Networks’ FY2022 earnings at $0.12 EPS.

A number of other equities research analysts also recently commented on CMBM. Jefferies Financial Group downgraded shares of Cambium Networks from a “buy” rating to a “hold” rating and cut their target price for the stock from $38.00 to $25.00 in a research report on Friday, March 4th. The Goldman Sachs Group cut their target price on shares of Cambium Networks from $47.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. JMP Securities cut their target price on shares of Cambium Networks from $60.00 to $45.00 and set a “market outperform” rating for the company in a research report on Thursday, April 14th. Zacks Investment Research downgraded shares of Cambium Networks from a “hold” rating to a “sell” rating and set a $17.00 target price for the company. in a research report on Friday, May 6th. Finally, Raymond James lifted their target price on shares of Cambium Networks from $35.00 to $43.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.10.

Shares of CMBM opened at $12.89 on Thursday. The company has a market capitalization of $345.77 million, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68. The company has a quick ratio of 1.79, a current ratio of 2.20 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $20.08 and a 200 day moving average of $23.86. Cambium Networks has a twelve month low of $12.82 and a twelve month high of $59.66.

Cambium Networks (NASDAQ:CMBMGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). The firm 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 5.17% and a return on equity of 15.99%. Cambium Networks’s revenue was down 30.1% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS.

Several institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its stake in shares of Cambium Networks by 30.0% during the 1st quarter. US Bancorp DE now owns 7,068 shares of the company’s stock valued at $167,000 after buying an additional 1,629 shares in the last quarter. Swiss National Bank lifted its stake in shares of Cambium Networks by 10.0% during the 1st quarter. Swiss National Bank now owns 22,100 shares of the company’s stock valued at $522,000 after buying an additional 2,000 shares in the last quarter. IndexIQ Advisors LLC lifted its stake in shares of Cambium Networks by 87.9% during the 1st quarter. IndexIQ Advisors LLC now owns 16,983 shares of the company’s stock valued at $401,000 after buying an additional 7,944 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in shares of Cambium Networks by 36.4% during the 1st quarter. Rice Hall James & Associates LLC now owns 541,543 shares of the company’s stock valued at $12,802,000 after buying an additional 144,389 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Cambium Networks by 92.4% during the 1st quarter. Royce & Associates LP now owns 384,881 shares of the company’s stock valued at $9,099,000 after buying an additional 184,881 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

About Cambium Networks (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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