Calix (NYSE:CALX) Issues Quarterly Earnings Results

Calix (NYSE:CALX) announced its earnings results on Monday. The communications equipment provider reported $0.13 EPS for the quarter, topping 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 business had revenue of $200.95 million during the quarter, compared to the consensus estimate of $201.06 million. During the same period in the previous year, the company posted $0.25 earnings per share. The firm’s 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

Calix stock traded down $1.59 during trading hours on Tuesday, hitting $37.88. 98,986 shares of the stock traded hands, compared to its average volume of 728,923. The firm’s 50 day moving average price is $37.51 and its 200-day moving average price is $35.18. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 122.19 and a beta of 1.74. Calix has a 1 year low of $26.76 and a 1 year high of $45.15.

Insider Buying and Selling

In other news, Director Carl Russo sold 25,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the sale, the director now owns 3,723,381 shares in the company, valued at $139,850,190.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CALX shares. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Tuesday. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Roth Mkm raised their price objective on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Craig Hallum upped their target price on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.