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

Cambium Networks (NASDAQ:CMBM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.640–0.410 for the period, compared to the consensus 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.

Analysts Set New Price Targets

Separately, Raymond James upped their price target on Cambium Networks from $5.25 to $5.50 and gave the stock an outperform rating in a research 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 assigned a buy rating to the company. According to MarketBeat.com, Cambium Networks currently has a consensus rating of Hold and an average price target of $11.04.

Cambium Networks Stock Performance

CMBM traded down $0.13 during midday trading on Thursday, reaching $4.03. The company had a trading volume of 58,943 shares, compared to its average volume of 112,550. The company has a quick ratio of 0.99, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $4.08 and a two-hundred day moving average of $4.45. The company has a market cap of $112.40 million, a P/E ratio of -1.74 and a beta of 0.99. Cambium Networks has a 1 year low of $2.92 and a 1 year high of $18.09.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.59). The business had revenue of $40.21 million during the quarter, compared to the consensus estimate of $41.82 million. Cambium Networks had a negative return on equity of 30.83% and a negative net margin of 28.87%. As a group, equities research analysts predict 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.