Cambium Networks (NASDAQ:CMBM – Get Rating) issued an update on its second quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.01-$0.11 for the period, compared to the consensus 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 $13.34 on Thursday. The company has a market capitalization of $357.85 million, a P/E ratio of 24.25, a P/E/G ratio of 2.58 and a beta of 0.68. The business’s 50 day moving average is $18.17 and its two-hundred day moving average is $22.76. The company has a current ratio of 2.49, a quick ratio of 1.87 and a debt-to-equity ratio of 0.23. Cambium Networks has a 12-month low of $12.40 and a 12-month high of $59.66.
Cambium Networks (NASDAQ:CMBM – Get Rating) last issued 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 analysts’ expectations of $62.42 million. Cambium Networks had a return on equity of 15.77% and a net margin of 5.17%. The business’s revenue for the quarter was down 30.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 EPS. On average, research analysts predict that Cambium Networks will post 0.28 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its stake in Cambium Networks by 536.6% during the third quarter. BNP Paribas Arbitrage SA now owns 2,107 shares of the company’s stock worth $76,000 after acquiring an additional 1,776 shares during the last quarter. US Bancorp DE increased its stake in Cambium Networks by 30.0% during the first quarter. US Bancorp DE now owns 7,068 shares of the company’s stock worth $167,000 after acquiring an additional 1,629 shares during the last quarter. Rhumbline Advisers increased its stake in Cambium Networks by 8.9% during the fourth quarter. Rhumbline Advisers now owns 8,021 shares of the company’s stock worth $206,000 after acquiring an additional 658 shares during the last quarter. American International Group Inc. increased its stake in Cambium Networks by 15.8% during the third quarter. American International Group Inc. now owns 5,819 shares of the company’s stock worth $211,000 after acquiring an additional 796 shares during the last quarter. Finally, Citigroup Inc. increased its stake in Cambium Networks by 120.8% during the fourth quarter. Citigroup Inc. now owns 14,182 shares of the company’s stock worth $363,000 after acquiring an additional 7,759 shares during the last quarter. 88.03% of the stock is owned by institutional investors.
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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