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

Cambium Networks (NASDAQ:CMBMGet Rating) issued an update on its second quarter 2022 earnings guidance on Thursday morning. 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.

Shares of CMBM stock opened at $13.22 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.49 and a debt-to-equity ratio of 0.23. Cambium Networks has a twelve month low of $12.53 and a twelve month high of $59.66. The company has a market cap of $354.69 million, a P/E ratio of 24.04, a P/E/G ratio of 2.68 and a beta of 0.68. The business has a fifty day simple moving average of $19.20 and a 200 day simple moving average of $23.35.

Cambium Networks (NASDAQ:CMBMGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). Cambium Networks had a return on equity of 15.77% and a net margin of 5.17%. The business had revenue of $61.90 million for the quarter, compared to analyst estimates of $62.42 million. During the same period in the previous year, the firm posted $0.70 EPS. The firm’s revenue was down 30.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Cambium Networks will post 0.28 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of Cambium Networks from a buy rating to a hold rating and lowered their price target for the stock from $38.00 to $25.00 in a report on Friday, March 4th. JPMorgan Chase & Co. upped their target price on Cambium Networks from $27.00 to $32.00 and gave the stock a neutral rating in a report on Tuesday, February 22nd. Oppenheimer cut their price target on Cambium Networks from $28.00 to $23.00 in a research note on Friday, May 6th. 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 research note on Friday, May 6th. Finally, Northland Securities dropped their price objective on shares of Cambium Networks from $50.00 to $30.00 in a report on Monday, April 18th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Cambium Networks currently has a consensus rating of Hold and a consensus price target of $36.10.

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. acquired a new stake in Cambium Networks during the 1st quarter valued at approximately $742,000. Squarepoint Ops LLC boosted its stake in shares of Cambium Networks by 19.9% in the 4th quarter. Squarepoint Ops LLC now owns 27,636 shares of the company’s stock valued at $708,000 after purchasing an additional 4,589 shares during the last quarter. Swiss National Bank increased its position in shares of Cambium Networks by 10.0% during the first quarter. Swiss National Bank now owns 22,100 shares of the company’s stock worth $522,000 after buying an additional 2,000 shares during the period. Bank of America Corp DE raised its stake in Cambium Networks by 542.3% during the fourth quarter. Bank of America Corp DE now owns 18,061 shares of the company’s stock worth $463,000 after buying an additional 15,249 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in Cambium Networks in the fourth quarter valued at $431,000. 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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