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

Cambium Networks (NASDAQ:CMBM) issued an update on its fourth quarter 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $0.110-$0.170 for the period, compared to the Thomson Reuters consensus EPS 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.

Shares of CMBM stock traded up $0.31 during mid-day trading on Thursday, hitting $28.21. The stock had a trading volume of 71,899 shares, compared to its average volume of 270,211. Cambium Networks has a fifty-two week low of $22.76 and a fifty-two week high of $66.40. The firm has a market cap of $751.68 million, a PE ratio of 17.20, a PEG ratio of 1.35 and a beta of 0.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.41 and a quick ratio of 2.00. The company’s 50-day simple moving average is $32.15 and its 200-day simple moving average is $40.01.

Cambium Networks (NASDAQ:CMBM) last released its earnings results on Thursday, November 4th. The company reported $0.23 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 company had revenue of $75.90 million during the quarter, compared to analysts’ expectations of $75.10 million. During the same quarter last year, the business earned $0.21 EPS. The business’s revenue was up 110.2% on a year-over-year basis. On average, analysts expect that Cambium Networks will post 1.02 EPS for the current year.

CMBM has been the subject of several recent analyst reports. Northland Securities reduced their target price on shares of Cambium Networks from $64.00 to $50.00 and set an outperform rating for the company in a research note on Friday, October 22nd. JMP Securities cut their price target on shares of Cambium Networks from $70.00 to $60.00 and set an outperform rating for the company in a report on Friday, October 22nd. TheStreet downgraded shares of Cambium Networks from a b- rating to a c+ rating in a report on Thursday, August 19th. Roth Capital increased their price target on shares of Cambium Networks from $64.00 to $69.00 and gave the company a buy rating in a report on Tuesday, August 10th. Finally, Zacks Investment Research downgraded shares of Cambium Networks from a hold rating to a strong sell rating and set a $24.00 price target for the company. in a report on Tuesday, October 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $56.86.

In other Cambium Networks news, General Counsel Sally Rau sold 21,250 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $411,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott Imhoff sold 5,000 shares of Cambium Networks stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $35.69, for a total transaction of $178,450.00. Following the sale, the vice president now owns 10,037 shares of the company’s stock, valued at $358,220.53. The disclosure for this sale can be found here. Company insiders own 66.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CMBM. BNP Paribas Arbitrage SA boosted its position in shares of Cambium Networks by 536.6% in the third quarter. BNP Paribas Arbitrage SA now owns 2,107 shares of the company’s stock worth $76,000 after acquiring an additional 1,776 shares during the last quarter. American International Group Inc. boosted its position in shares of Cambium Networks by 15.8% in the third quarter. American International Group Inc. now owns 5,819 shares of the company’s stock worth $211,000 after acquiring an additional 796 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Cambium Networks by 131.7% in the third quarter. Royal Bank of Canada now owns 20,995 shares of the company’s stock worth $760,000 after acquiring an additional 11,934 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Cambium Networks by 34.1% in 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 shares of Cambium Networks by 428.8% in 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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