Cambium Networks (NASDAQ:CMBM) Updates Q2 2022 Earnings Guidance

Cambium Networks (NASDAQ:CMBMGet Rating) updated its second quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $0.01-$0.11 for the period, compared to the consensus EPS estimate of $0.15. The company issued revenue guidance of $65.00 million-$73.00 million, compared to the consensus revenue estimate of $76.54 million.Cambium Networks also updated its FY 2022 guidance to $0.28-$0.70 EPS.

Several equities research analysts recently commented on the stock. Northland Securities cut their price objective on shares of Cambium Networks from $50.00 to $30.00 in a research report on Monday, April 18th. Jefferies Financial Group lowered Cambium Networks from a buy rating to a hold rating and cut their price target for the company from $38.00 to $25.00 in a report on Friday, March 4th. Zacks Investment Research downgraded Cambium Networks from a hold rating to a sell rating and set a $17.00 price objective for the company. in a report on Friday, May 6th. JMP Securities cut their target price on Cambium Networks from $60.00 to $45.00 and set a market outperform rating on the stock in a research note on Thursday, April 14th. Finally, Barrington Research downgraded Cambium Networks from an outperform rating to a market perform rating in a research report on Thursday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cambium Networks has a consensus rating of Hold and an average target price of $36.10.

Shares of NASDAQ CMBM opened at $13.22 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.87 and a current ratio of 2.49. The stock has a 50 day moving average price of $19.20 and a 200 day moving average price of $23.35. The stock has a market capitalization of $354.69 million, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68. Cambium Networks has a 52 week low of $12.53 and a 52 week high of $59.66.

Cambium Networks (NASDAQ:CMBMGet Rating) last announced its quarterly earnings data 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). Cambium Networks had a return on equity of 15.77% and a net margin of 5.17%. The company had revenue of $61.90 million for the quarter, compared to the consensus estimate of $62.42 million. During the same quarter in the prior year, the company earned $0.70 EPS. The company’s revenue for the quarter was down 30.1% on a year-over-year basis. As a group, research analysts forecast that Cambium Networks will post 0.28 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its position in shares of Cambium Networks by 8.9% in the 4th quarter. Rhumbline Advisers now owns 8,021 shares of the company’s stock valued at $206,000 after acquiring an additional 658 shares during the period. American International Group Inc. lifted its stake in Cambium Networks by 15.8% in 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 last quarter. Barclays PLC grew its holdings in Cambium Networks by 8.4% during the fourth quarter. Barclays PLC now owns 15,363 shares of the company’s stock worth $394,000 after purchasing an additional 1,197 shares during the period. Charles Schwab Investment Management Inc. increased its position in Cambium Networks by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,856 shares of the company’s stock worth $1,688,000 after buying an additional 1,330 shares during the last quarter. Finally, US Bancorp DE raised its stake in Cambium Networks by 30.0% in the first 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 during the period. Hedge funds and other institutional investors 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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