Calix, Inc. (NYSE:CALX) to Post Q3 2024 Earnings of ($0.13) Per Share, Northland Capmk Forecasts

Calix, Inc. (NYSE:CALX) – Investment analysts at Northland Capmk dropped their Q3 2024 earnings per share estimates for Calix in a report issued on Tuesday, July 23rd. Northland Capmk analyst T. Savageaux now anticipates that the communications equipment provider will post earnings of ($0.13) per share for the quarter, down from their prior estimate of ($0.07). The consensus estimate for Calix’s current full-year earnings is ($0.27) per share. Northland Capmk also issued estimates for Calix’s Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.37) EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.00 EPS, Q4 2025 earnings at $0.04 EPS and FY2025 earnings at ($0.03) EPS.

Calix (NYSE:CALX) last announced its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Calix had a return on equity of 4.17% and a net margin of 0.52%. The company had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $200.77 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue was down 24.1% compared to the same quarter last year.

CALX has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price target on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com downgraded Calix from a “hold” rating to a “sell” rating in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Tuesday. Craig Hallum raised their target price on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group downgraded shares of Calix from a “buy” rating to a “hold” rating and reduced their target price for the stock from $48.00 to $30.00 in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Calix has an average rating of “Hold” and an average price target of $42.50.

Calix Price Performance

Calix stock opened at $34.70 on Friday. The company’s 50-day moving average is $34.78 and its 200-day moving average is $34.51. The firm has a market capitalization of $2.28 billion, a PE ratio of 111.94 and a beta of 1.76. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $48.53.

Institutional Investors Weigh In On Calix

A number of institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC increased its position in Calix by 13,787.5% during the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 1,103 shares during the period. Headlands Technologies LLC acquired a new position in shares of Calix during the 1st quarter worth approximately $48,000. Quadrant Capital Group LLC increased its holdings in shares of Calix by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 348 shares during the period. Assetmark Inc. raised its position in shares of Calix by 41.5% in the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 655 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Calix by 13.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after buying an additional 303 shares during the period. Institutional investors own 98.14% of the company’s stock.

About Calix

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.