Q2 2023 Earnings Estimate for Cambium Networks Co. (NASDAQ:CMBM) Issued By Zacks Research

Posted by Defense World Staff on Apr 24th, 2023

Cambium Networks Co. (NASDAQ:CMBM – Get Rating) – Zacks Research raised their Q2 2023 earnings per share (EPS) estimates for shares of Cambium Networks in a research note issued to investors on Wednesday, April 19th. Zacks Research analyst S. Bose now forecasts that the company will post earnings per share of $0.19 for the quarter, up from their previous estimate of $0.18. The consensus estimate for Cambium Networks’ current full-year earnings is $0.87 per share. Zacks Research also issued estimates for Cambium Networks’ Q1 2024 earnings at $0.25 EPS, Q2 2024 earnings at $0.29 EPS, Q3 2024 earnings at $0.28 EPS, FY2024 earnings at $1.08 EPS, Q1 2025 earnings at $0.12 EPS and FY2025 earnings at $0.74 EPS.

Several other analysts have also commented on CMBM. JPMorgan Chase & Co. decreased their price target on Cambium Networks from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Raymond James decreased their price target on Cambium Networks from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 17th. Finally, Oppenheimer boosted their price target on Cambium Networks from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, February 17th.

Cambium Networks Price Performance

Shares of CMBM stock opened at $14.70 on Monday. The stock’s fifty day simple moving average is $18.56 and its 200 day simple moving average is $19.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.44 and a quick ratio of 1.79. The firm has a market cap of $401.90 million, a price-to-earnings ratio of 20.71, a P/E/G ratio of 1.05 and a beta of 0.81. Cambium Networks has a one year low of $12.40 and a one year high of $24.19.

Cambium Networks (NASDAQ:CMBM – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.17 by $0.11. The business had revenue of $84.51 million for the quarter, compared to analyst estimates of $82.08 million. Cambium Networks had a return on equity of 14.61% and a net margin of 6.80%.

Insider Buying and Selling at Cambium Networks

In other Cambium Networks news, VP Vibhu Vivek sold 22,249 shares of Cambium Networks stock in a transaction on Monday, March 6th. The stock was sold at an average price of $20.27, for a total value of $450,987.23. Following the completion of the transaction, the vice president now owns 81,917 shares in the company, valued at approximately $1,660,457.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 58.50% of the company’s stock.

Institutional Investors Weigh In On Cambium Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. ACT Capital Management LLC bought a new stake in Cambium Networks in the third quarter valued at about $582,000. Rice Hall James & Associates LLC increased its holdings in Cambium Networks by 3.5% in the third quarter. Rice Hall James & Associates LLC now owns 936,605 shares of the company’s stock valued at $15,847,000 after purchasing an additional 31,941 shares during the last quarter. Millrace Asset Group Inc. increased its holdings in Cambium Networks by 20.5% in the third quarter. Millrace Asset Group Inc. now owns 211,070 shares of the company’s stock valued at $3,571,000 after purchasing an additional 35,931 shares during the last quarter. First National Bank of Omaha increased its holdings in Cambium Networks by 0.7% in the third quarter. First National Bank of Omaha now owns 97,312 shares of the company’s stock valued at $1,647,000 after purchasing an additional 700 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Cambium Networks in the fourth quarter valued at about $7,995,000. Institutional investors own 90.06% of the company’s stock.

Cambium Networks Company Profile

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Cambium Networks Corp. engages in the provision of wireless broadband networking infrastructure solutions for network operators. Its products include point-to-point, enterprise Wi-Fi and switching, CCTV,software, and point-to multipoint. The company was founded in 2011 and is headquartered in Rolling Meadows, IL.