Cambium Networks (NASDAQ:CMBM) Releases Q3 2024 Earnings Guidance

Cambium Networks (NASDAQ:CMBM) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of -0.190–0.140 for the period, compared to the consensus EPS estimate of -0.030. The company issued revenue guidance of $43.0 million-$48.0 million, compared to the consensus revenue estimate of $58.7 million. Cambium Networks also updated its FY 2024 guidance to -1.040–0.870 EPS.

Cambium Networks Stock Down 8.6 %

Shares of Cambium Networks stock traded down $0.16 during trading hours on Friday, reaching $1.70. The company’s stock had a trading volume of 140,272 shares, compared to its average volume of 118,545. The company has a market capitalization of $47.42 million, a P/E ratio of -0.50 and a beta of 0.95. The stock’s fifty day simple moving average is $2.46 and its two-hundred day simple moving average is $3.49. Cambium Networks has a one year low of $1.69 and a one year high of $9.96. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.33 and a current ratio of 1.97.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21). The firm had revenue of $42.34 million for the quarter, compared to analysts’ expectations of $45.57 million. Cambium Networks had a negative return on equity of 56.10% and a negative net margin of 50.94%. On average, research analysts forecast that Cambium Networks will post -0.94 earnings per share for the current year.

Analyst Ratings Changes

CMBM has been the subject of several research reports. Northland Securities reduced their price target on shares of Cambium Networks from $7.00 to $5.00 and set an outperform rating for the company in a research report on Friday. Roth Mkm reduced their target price on shares of Cambium Networks from $8.50 to $8.00 and set a buy rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $6.13.

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.