Cambium Networks (NASDAQ:CMBM) Announces Quarterly Earnings Results

Cambium Networks (NASDAQ:CMBMGet Rating) announced its earnings results on Thursday. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.12, Briefing.com reports. The company had revenue of $69.30 million during the quarter, compared to analyst estimates of $68.53 million. Cambium Networks had a net margin of 5.17% and a return on equity of 15.77%. Cambium Networks’s revenue was down 25.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share.

Cambium Networks Stock Performance

Shares of CMBM traded down $0.20 during mid-day trading on Friday, reaching $19.08. 219,322 shares of the company’s stock were exchanged, compared to its average volume of 157,331. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.49 and a quick ratio of 1.87. The stock has a market capitalization of $511.82 million, a PE ratio of 34.69, a price-to-earnings-growth ratio of 4.44 and a beta of 0.79. The business’s fifty day simple moving average is $15.69 and its 200-day simple moving average is $19.09. Cambium Networks has a 52-week low of $12.40 and a 52-week high of $44.16.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CMBM shares. JMP Securities lowered their target price on shares of 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. TheStreet raised shares of Cambium Networks from a “d+” rating to a “c-” rating in a research note on Monday, June 27th. JPMorgan Chase & Co. lowered their target price on shares of Cambium Networks from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, July 14th. Barrington Research lowered shares of Cambium Networks from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 14th. Finally, Oppenheimer lowered their price objective on shares of Cambium Networks from $28.00 to $23.00 in a research note on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.56.

Hedge Funds Weigh In On Cambium Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in Cambium Networks by 2.4% in the 1st quarter. BlackRock Inc. now owns 746,989 shares of the company’s stock valued at $17,660,000 after buying an additional 17,368 shares during the last quarter. Vanguard Group Inc. grew its position in Cambium Networks by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 736,491 shares of the company’s stock valued at $17,410,000 after buying an additional 42,765 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cambium Networks by 40.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 235,185 shares of the company’s stock valued at $5,559,000 after buying an additional 67,553 shares during the last quarter. Select Equity Group L.P. purchased a new stake in shares of Cambium Networks during the 1st quarter worth $5,183,000. Finally, Federated Hermes Inc. boosted its position in shares of Cambium Networks by 7.2% during the 1st quarter. Federated Hermes Inc. now owns 201,421 shares of the company’s stock worth $4,761,000 after purchasing an additional 13,588 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also

Earnings History for Cambium Networks (NASDAQ:CMBM)

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