Cambium Networks (NASDAQ:CMBM) Releases FY 2022 Earnings Guidance

Cambium Networks (NASDAQ:CMBMGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $0.46-$0.89 for the period, compared to the consensus EPS estimate of $0.49. The company issued revenue guidance of $280.00 million-$300.00 million, compared to the consensus revenue estimate of $289.30 million. Cambium Networks also updated its FY22 guidance to $0.46-0.89 EPS.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMBM. JMP Securities cut their price target on Cambium Networks from $60.00 to $45.00 and set a market outperform rating for the company in a research note on Thursday, April 14th. Barrington Research downgraded Cambium Networks from an outperform rating to a market perform rating in a research note on Thursday, April 14th. TheStreet upgraded Cambium Networks from a d+ rating to a c- rating in a research note on Monday, June 27th. Northland Securities cut their price target on Cambium Networks from $50.00 to $30.00 in a research note on Monday, April 18th. Finally, Oppenheimer cut their price target on Cambium Networks from $28.00 to $23.00 in a research note on Friday, May 6th. One research analyst has 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 stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $36.56.

Cambium Networks Stock Performance

Shares of NASDAQ CMBM traded up $0.21 during midday trading on Thursday, reaching $19.28. The company’s stock had a trading volume of 120,981 shares, compared to its average volume of 156,913. Cambium Networks has a 12-month low of $12.40 and a 12-month high of $44.16. The firm has a 50 day moving average price of $15.69 and a 200-day moving average price of $19.09. The stock has a market capitalization of $517.19 million, a P/E ratio of 35.05, a PEG ratio of 4.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.49 and a quick ratio of 1.87.

Cambium Networks (NASDAQ:CMBMGet Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $61.90 million for the quarter, compared to the consensus estimate of $62.42 million. Cambium Networks had a return on equity of 15.77% and a net margin of 5.17%. The company’s revenue was down 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS. As a group, equities analysts predict that Cambium Networks will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Cambium Networks

A number of hedge funds have recently modified their holdings of CMBM. US Bancorp DE raised its holdings in 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 acquiring an additional 1,629 shares during the period. Swiss National Bank raised its holdings in 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 acquiring an additional 2,000 shares during the period. Rhumbline Advisers raised its holdings in Cambium Networks by 31.6% during the 1st quarter. Rhumbline Advisers now owns 10,553 shares of the company’s stock valued at $249,000 after acquiring an additional 2,532 shares during the period. State Street Corp raised its holdings in Cambium Networks by 4.9% during the 1st quarter. State Street Corp now owns 188,050 shares of the company’s stock valued at $4,446,000 after acquiring an additional 8,866 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Cambium Networks by 7.2% during the 1st quarter. Federated Hermes Inc. now owns 201,421 shares of the company’s stock valued at $4,761,000 after acquiring an additional 13,588 shares during the period. Institutional investors 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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