Calix (NYSE:CALX) Posts Earnings Results, Beats Expectations By $0.04 EPS

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

Calix Trading Down 3.9 %

Shares of CALX traded down $1.49 during midday trading on Wednesday, reaching $36.25. The stock had a trading volume of 681,908 shares, compared to its average volume of 733,540. The firm has a market cap of $2.39 billion, a PE ratio of -151.04 and a beta of 1.74. The firm has a 50 day simple moving average of $37.49 and a 200-day simple moving average of $35.24. Calix has a one year low of $26.76 and a one year high of $45.15.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, the director now owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Roth Mkm raised their target price 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price objective on shares of Calix in a research report on Thursday, October 3rd. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

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.