Cambium Networks (NASDAQ:CMBM) Issues FY 2024 Earnings Guidance

Cambium Networks (NASDAQ:CMBM) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of -0.640–0.410 for the period, compared to the consensus EPS estimate of -0.250. The company issued revenue guidance of $205.0 million-$225.0 million, compared to the consensus revenue estimate of $226.3 million. Cambium Networks also updated its Q2 2024 guidance to -0.240–0.190 EPS.

Analyst Ratings Changes

Separately, Raymond James upped their target price on Cambium Networks from $5.25 to $5.50 and gave the stock an outperform rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $11.04.

Cambium Networks Price Performance

NASDAQ CMBM traded down $0.13 during mid-day trading on Thursday, hitting $4.03. The stock had a trading volume of 58,443 shares, compared to its average volume of 112,550. The firm’s 50 day moving average is $4.08 and its 200 day moving average is $4.45. Cambium Networks has a twelve month low of $2.92 and a twelve month high of $18.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 0.99. The stock has a market capitalization of $112.40 million, a price-to-earnings ratio of -1.80 and a beta of 0.99.

Cambium Networks (NASDAQ:CMBM) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.59). Cambium Networks had a negative net margin of 28.87% and a negative return on equity of 30.83%. The firm had revenue of $40.21 million during the quarter, compared to analyst estimates of $41.82 million. Equities research analysts forecast that Cambium Networks will post -0.66 earnings per share for the current fiscal year.

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.