Cambium Networks (NASDAQ:CMBM) Posts Quarterly Earnings Results

Cambium Networks (NASDAQ:CMBMGet Rating) announced its quarterly earnings results on Thursday. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.06 by $0.12, Briefing.com reports. The company had revenue of $69.30 million for the quarter, compared to analyst estimates of $68.53 million. Cambium Networks had a net margin of 2.38% and a return on equity of 7.60%. Cambium Networks’s revenue was down 25.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share.

Cambium Networks Stock Down 1.0 %

CMBM stock traded down $0.20 during midday trading on Friday, reaching $19.08. The company had a trading volume of 219,322 shares, compared to its average volume of 85,509. Cambium Networks has a 1 year low of $12.40 and a 1 year high of $44.16. The company has a current ratio of 2.49, a quick ratio of 1.87 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $511.92 million, a P/E ratio of 82.96, a PEG ratio of 4.49 and a beta of 0.79. The company has a 50 day moving average of $15.78 and a two-hundred day moving average of $19.07.

Wall Street Analyst Weigh In

CMBM has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Cambium Networks from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, July 14th. Northland Securities decreased their price objective on shares of Cambium Networks from $50.00 to $30.00 in a report on Monday, April 18th. 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. JMP Securities reduced their target price on shares of Cambium Networks from $60.00 to $45.00 and set a “market outperform” rating for the company in a report on Thursday, April 14th. Finally, TheStreet upgraded shares of Cambium Networks from a “d+” rating to a “c-” rating in a report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE grew its stake in Cambium Networks by 30.0% in the 1st quarter. US Bancorp DE now owns 7,068 shares of the company’s stock valued at $167,000 after buying an additional 1,629 shares during the last quarter. Rhumbline Advisers grew its stake in Cambium Networks by 31.6% in the 1st quarter. Rhumbline Advisers now owns 10,553 shares of the company’s stock valued at $249,000 after buying an additional 2,532 shares during the last quarter. Swiss National Bank grew its stake in Cambium Networks by 10.0% in the 1st quarter. Swiss National Bank now owns 22,100 shares of the company’s stock valued at $522,000 after buying an additional 2,000 shares during the last quarter. Invesco Ltd. acquired a new position in Cambium Networks in the 1st quarter valued at $742,000. Finally, Worth Venture Partners LLC grew its stake in Cambium Networks by 116.3% in the 1st quarter. Worth Venture Partners LLC now owns 33,540 shares of the company’s stock valued at $793,000 after buying an additional 18,035 shares during the last quarter. 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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