Calix (NYSE:CALX) Posts Earnings Results

Calix (NYSE:CALX) announced 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. 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 quarter last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter 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 Stock Down 3.9 %

NYSE CALX opened at $36.25 on Thursday. The firm has a market cap of $2.39 billion, a PE ratio of -151.04 and a beta of 1.74. The company has a 50 day moving average price of $37.49 and a 200 day moving average price of $35.24. Calix has a 52 week low of $26.76 and a 52 week high of $45.15.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the company’s 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 directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CALX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Craig Hallum increased their price target on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a report on Tuesday. Rosenblatt Securities restated a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.