Calix (NYSE:CALX) Announces Quarterly Earnings Results

Calix (NYSE:CALX) posted its quarterly earnings data on Monday. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04, Briefing.com reports. Calix had a net margin of 0.52% and a return on equity of 4.17%. The company had revenue of $200.95 million during the quarter, compared to analyst estimates of $201.06 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was down 23.8% on a year-over-year basis. Calix updated its Q4 guidance to $0.04-0.10 EPS and its Q4 2024 guidance to 0.040-0.100 EPS.

Calix Price Performance

Shares of NYSE:CALX opened at $37.74 on Wednesday. The stock has a market capitalization of $2.48 billion, a P/E ratio of -157.25 and a beta of 1.74. The business has a 50-day moving average of $37.51 and a two-hundred day moving average of $35.23. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $45.15.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CALX shares. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Tuesday. Roth Mkm boosted their price objective on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Craig Hallum increased their price objective on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Calix Company Profile

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.