Cambium Networks (NASDAQ:CMBM) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Cambium Networks (NASDAQ:CMBMGet Rating) issued its quarterly earnings results on Thursday. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.06 by $0.12, Briefing.com reports. Cambium Networks had a net margin of 2.38% and a return on equity of 7.60%. The company had revenue of $69.30 million during the quarter, compared to analysts’ expectations of $68.53 million. During the same quarter in the previous year, the company earned $0.40 EPS. Cambium Networks’s revenue was down 25.2% on a year-over-year basis.

Cambium Networks Price Performance

Shares of CMBM stock traded down $0.20 on Friday, reaching $19.08. The company had a trading volume of 219,322 shares, compared to its average volume of 85,509. The stock has a market capitalization of $511.92 million, a PE ratio of 82.96, a price-to-earnings-growth ratio of 4.49 and a beta of 0.79. The company has a quick ratio of 1.87, a current ratio of 2.49 and a debt-to-equity ratio of 0.23. Cambium Networks has a one year low of $12.40 and a one year high of $44.16. The business’s 50-day moving average is $15.78 and its 200 day moving average is $19.07.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CMBM. The Goldman Sachs Group decreased their price objective on shares of Cambium Networks from $47.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Northland Securities cut their price objective on shares of Cambium Networks from $50.00 to $30.00 in a research report on Monday, April 18th. TheStreet raised shares of Cambium Networks from a “d+” rating to a “c-” rating in a research report on Monday, June 27th. JMP Securities dropped their price target on shares of Cambium Networks from $60.00 to $45.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 14th. Finally, Barrington Research lowered shares of Cambium Networks from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CMBM. BlackRock Inc. raised its holdings in Cambium Networks by 2.4% during the 1st quarter. BlackRock Inc. now owns 746,989 shares of the company’s stock worth $17,660,000 after purchasing an additional 17,368 shares during the last quarter. Vanguard Group Inc. grew its position in Cambium Networks by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 736,491 shares of the company’s stock valued at $17,410,000 after purchasing an additional 42,765 shares during the period. Dimensional Fund Advisors LP grew its position in Cambium Networks by 40.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 235,185 shares of the company’s stock valued at $5,559,000 after purchasing an additional 67,553 shares during the period. Select Equity Group L.P. acquired a new stake in Cambium Networks in the 1st quarter valued at $5,183,000. Finally, Federated Hermes Inc. grew its position in Cambium Networks by 7.2% in the 1st quarter. Federated Hermes Inc. now owns 201,421 shares of the company’s stock valued at $4,761,000 after purchasing an additional 13,588 shares during the period. Institutional investors own 88.03% of the company’s stock.

Cambium Networks Company Profile

(Get Rating)

Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for commercial and government network operators. Its wireless fabric includes intelligent radios, smart antennas, radio frequency (RF) algorithms, wireless-aware switches, and cloud-based network management software.

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Earnings History for Cambium Networks (NASDAQ:CMBM)

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