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

Cambium Networks (NASDAQ:CMBM) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of -0.190–0.140 for the period, compared to the consensus 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 Performance

Shares of NASDAQ:CMBM traded down $0.16 during trading on Friday, hitting $1.70. The stock had a trading volume of 140,272 shares, compared to its average volume of 118,545. The company has a quick ratio of 1.33, a current ratio of 1.97 and a debt-to-equity ratio of 1.08. Cambium Networks has a 12-month low of $1.69 and a 12-month high of $9.96. The stock has a market capitalization of $47.42 million, a price-to-earnings ratio of -0.50 and a beta of 0.95. The stock has a 50-day simple moving average of $2.46 and a two-hundred day simple moving average of $3.49.

Cambium Networks (NASDAQ:CMBM) last announced 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). Cambium Networks had a negative net margin of 50.94% and a negative return on equity of 56.10%. The company had revenue of $42.34 million for the quarter, compared to analysts’ expectations of $45.57 million. On average, equities research analysts expect that Cambium Networks will post -0.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CMBM shares. Roth Mkm lowered their price target on shares of Cambium Networks from $8.50 to $8.00 and set a buy rating on the stock in a report on Friday. Northland Securities lowered their target price on shares of Cambium Networks from $7.00 to $5.00 and set an outperform rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $6.13.

About Cambium Networks

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.