Cambium Networks (NASDAQ:CMBM) Releases Q2 2024 Earnings Guidance

Cambium Networks (NASDAQ:CMBM) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.240–0.190 for the period, compared to the consensus estimate of -0.120. The company issued revenue guidance of $43.0 million-$48.0 million, compared to the consensus revenue estimate of $51.3 million. Cambium Networks also updated its FY 2024 guidance to -0.640–0.410 EPS.

Cambium Networks Stock Performance

NASDAQ CMBM traded down $0.13 during trading hours on Thursday, hitting $4.03. 58,943 shares of the company’s stock traded hands, compared to its average volume of 112,550. The business’s fifty day moving average price is $4.08 and its two-hundred day moving average price is $4.45. The company has a current ratio of 1.69, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $112.40 million, a P/E ratio of -1.74 and a beta of 0.99. Cambium Networks has a 52 week low of $2.92 and a 52 week high of $18.09.

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

Wall Street Analyst Weigh In

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

Cambium Networks Company Profile

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.