FY2024 EPS Estimates for Calix, Inc. (NYSE:CALX) Decreased by Roth Capital

Calix, Inc. (NYSE:CALX) – Analysts at Roth Capital reduced their FY2024 earnings per share (EPS) estimates for Calix in a report released on Sunday, September 15th. Roth Capital analyst S. Searle now forecasts that the communications equipment provider will earn ($0.32) per share for the year, down from their prior forecast of ($0.30). The consensus estimate for Calix’s current full-year earnings is ($0.36) per share. Roth Capital also issued estimates for Calix’s Q4 2024 earnings at ($0.11) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.11) EPS.

Several other research analysts also recently issued reports on CALX. Roth Mkm lifted their price target on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Rosenblatt Securities raised their price objective on shares of Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Craig Hallum upped their target price on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. boosted their price target on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Calix Price Performance

CALX opened at $37.32 on Wednesday. Calix has a 1-year low of $26.76 and a 1-year high of $47.15. The stock has a market cap of $2.45 billion, a P/E ratio of 120.35 and a beta of 1.74. The stock’s 50 day simple moving average is $36.65 and its 200 day simple moving average is $34.23.

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

Institutional Trading of Calix

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in Calix during the first quarter valued at about $48,000. TFO Wealth Partners LLC grew its holdings in shares of Calix by 13,787.5% during the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after purchasing an additional 1,103 shares during the period. Ariadne Wealth Management LP acquired a new stake in Calix during the 2nd quarter worth approximately $60,000. Nisa Investment Advisors LLC raised its holdings in 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. Finally, Assetmark Inc. grew its stake in Calix by 41.5% during the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 655 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the sale, the director now directly owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 16.69% 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.