Cambium Networks (NASDAQ:CMBM) Updates Q2 2024 Earnings Guidance

Cambium Networks (NASDAQ:CMBM) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.240–0.190 for the period, compared to the consensus earnings per share estimate of -0.120. The company issued revenue guidance of $43.0 million-$48.0 million, compared to the consensus revenue estimate of $51.3 million. Cambium Networks also updated its FY 2024 guidance to -0.640–0.410 EPS.

Cambium Networks Stock Down 3.1 %

Cambium Networks stock traded down $0.13 during midday trading on Thursday, hitting $4.03. 58,943 shares of the stock were exchanged, compared to its average volume of 112,550. Cambium Networks has a 1 year low of $2.92 and a 1 year high of $18.09. The firm has a market cap of $112.40 million, a P/E ratio of -1.74 and a beta of 0.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 0.99. The company has a 50 day moving average price of $4.08 and a two-hundred day moving average price of $4.45.

Cambium Networks (NASDAQ:CMBM) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.59). The company had revenue of $40.21 million for the quarter, compared to analyst estimates of $41.82 million. Cambium Networks had a negative return on equity of 30.83% and a negative net margin of 28.87%. On average, sell-side analysts predict that Cambium Networks will post -0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Raymond James lifted their price target on shares of Cambium Networks from $5.25 to $5.50 and gave the company an outperform rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $11.04.

Cambium Networks Company Profile

Cambium Networks Corporation, together with its subsidiaries, engages in the design, development, and manufacture of wireless broadband and Wi-Fi networking infrastructure solutions. The company offers point-to-point fixed wireless backhaul and point-to-multipoint fixed wireless solutions; and enterprise solutions comprising cnMatrix cloud-managed wireless-aware switching solution, Xirrus Wi-Fi solutions, and Wi-Fi 6/6E access points which support cnMaestro and Xirrus XMS management.