Zacks Research Issues Positive Outlook for CMBM Earnings

Cambium Networks Co. (NASDAQ:CMBM) – Equities research analysts at Zacks Research increased their Q4 2024 earnings per share (EPS) estimates for shares of Cambium Networks in a research report issued on Tuesday, October 22nd. Zacks Research analyst R. Department now forecasts that the company will post earnings of ($0.12) per share for the quarter, up from their previous forecast of ($0.13). The consensus estimate for Cambium Networks’ current full-year earnings is ($1.30) per share.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.03). The business had revenue of $45.95 million during the quarter, compared to analyst estimates of $45.92 million. Cambium Networks had a negative return on equity of 83.80% and a negative net margin of 58.76%.

A number of other equities analysts have also recently weighed in on CMBM. Roth Mkm reduced their price target on Cambium Networks from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Northland Securities cut their price objective on Cambium Networks from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 9th.

Cambium Networks Stock Performance

NASDAQ CMBM opened at $1.24 on Thursday. The stock has a market capitalization of $34.59 million, a price-to-earnings ratio of -0.36 and a beta of 0.93. Cambium Networks has a twelve month low of $1.08 and a twelve month high of $6.50. The company has a current ratio of 1.93, a quick ratio of 1.37 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average of $1.64 and a 200 day moving average of $2.46.

Institutional Investors Weigh In On Cambium Networks

Large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cambium Networks during the 2nd quarter worth approximately $52,000. Virtu Financial LLC purchased a new stake in shares of Cambium Networks in the first quarter valued at approximately $73,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Cambium Networks in the second quarter valued at approximately $187,000. Federated Hermes Inc. grew its position in shares of Cambium Networks by 13.5% in the second quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock valued at $851,000 after purchasing an additional 36,270 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Cambium Networks by 60.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock valued at $1,253,000 after purchasing an additional 109,837 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.