Cambium Networks (NASDAQ:CMBM) Updates Q4 2021 Earnings Guidance

Cambium Networks (NASDAQ:CMBM) updated its fourth quarter 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $0.110-$0.170 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.220. The company issued revenue guidance of $73.50 million-$77.50 million, compared to the consensus revenue estimate of $82.05 million.

Several equities research analysts have weighed in on the stock. TheStreet downgraded shares of Cambium Networks from a b- rating to a c+ rating in a research note on Thursday, August 19th. Zacks Investment Research downgraded shares of Cambium Networks from a hold rating to a strong sell rating and set a $24.00 target price for the company. in a research note on Tuesday, October 26th. Vertical Research downgraded shares of Cambium Networks from a neutral rating to a sell rating in a research note on Tuesday, October 12th. Roth Capital lifted their price objective on shares of Cambium Networks from $64.00 to $69.00 and gave the stock a buy rating in a research note on Tuesday, August 10th. Finally, Barrington Research lowered their price objective on shares of Cambium Networks from $65.00 to $55.00 and set an outperform rating for the company in a research note on Tuesday, November 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $56.86.

Shares of Cambium Networks stock traded up $0.31 during trading on Thursday, hitting $28.21. 71,899 shares of the company’s stock were exchanged, compared to its average volume of 270,211. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.00 and a current ratio of 2.41. The business has a 50-day simple moving average of $32.15 and a 200-day simple moving average of $40.01. Cambium Networks has a 52-week low of $22.76 and a 52-week high of $66.40. The stock has a market capitalization of $751.68 million, a price-to-earnings ratio of 17.20, a PEG ratio of 1.35 and a beta of 0.34.

Cambium Networks (NASDAQ:CMBM) last issued its earnings results on Thursday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Cambium Networks had a net margin of 13.68% and a return on equity of 52.65%. The firm had revenue of $75.90 million during the quarter, compared to analysts’ expectations of $75.10 million. During the same quarter last year, the company posted $0.21 earnings per share. The firm’s revenue was up 110.2% compared to the same quarter last year. On average, equities analysts anticipate that Cambium Networks will post 1.02 earnings per share for the current fiscal year.

In other Cambium Networks news, VP Scott Imhoff sold 5,000 shares of Cambium Networks stock in a transaction on Friday, September 10th. The shares were sold at an average price of $35.69, for a total value of $178,450.00. Following the completion of the transaction, the vice president now owns 10,037 shares of the company’s stock, valued at $358,220.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Sally Rau sold 21,250 shares of Cambium Networks stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $36.56, for a total transaction of $776,900.00. Following the completion of the transaction, the general counsel now directly owns 11,250 shares of the company’s stock, valued at approximately $411,300. The disclosure for this sale can be found here. Company insiders own 66.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of Cambium Networks by 536.6% during the third quarter. BNP Paribas Arbitrage SA now owns 2,107 shares of the company’s stock worth $76,000 after purchasing an additional 1,776 shares in the last quarter. American International Group Inc. increased its stake in shares of Cambium Networks by 15.8% during the third quarter. American International Group Inc. now owns 5,819 shares of the company’s stock worth $211,000 after purchasing an additional 796 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Cambium Networks by 131.7% during the third quarter. Royal Bank of Canada now owns 20,995 shares of the company’s stock worth $760,000 after purchasing an additional 11,934 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Cambium Networks by 34.1% during the third quarter. Bank of New York Mellon Corp now owns 31,453 shares of the company’s stock worth $1,138,000 after acquiring an additional 7,996 shares during the last quarter. Finally, Morgan Stanley boosted its position in Cambium Networks by 428.8% during the second quarter. Morgan Stanley now owns 221,925 shares of the company’s stock worth $10,730,000 after acquiring an additional 179,954 shares during the last quarter.

Cambium Networks Company Profile

Cambium Networks Corp. engages in the provision of wireless broadband networking infrastructure solutions for network operators. Its products include point-to-point, enterprise Wi-Fi and switching, CCTV,software, and point-to multipoint. The company was founded in 2011 and is headquartered in Rolling Meadows, IL.

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