Calix (NYSE:CALX) Issues Q1 Earnings Guidance

Calix (NYSE:CALXGet Rating) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.24-$0.30 for the period, compared to the consensus estimate of $0.27. The company issued revenue guidance of $242-$248 million, compared to the consensus revenue estimate of $240.69 million.

Calix Price Performance

Shares of NYSE:CALX traded down $0.31 during mid-day trading on Wednesday, hitting $57.95. The company had a trading volume of 898,945 shares, compared to its average volume of 882,059. Calix has a one year low of $31.59 and a one year high of $77.44. The firm has a fifty day moving average price of $67.25 and a 200 day moving average price of $61.56. The company has a market capitalization of $3.79 billion, a PE ratio of 81.62 and a beta of 1.63.

Calix (NYSE:CALXGet Rating) last posted its quarterly earnings results on Monday, October 24th. The communications equipment provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. The business had revenue of $236.33 million during the quarter, compared to analysts’ expectations of $215.25 million. Calix had a net margin of 6.12% and a return on equity of 6.91%. The business’s quarterly revenue was up 37.2% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. Research analysts expect that Calix will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cowen increased their price target on Calix from $71.00 to $90.00 in a report on Wednesday, October 26th. Craig Hallum boosted their price target on shares of Calix from $69.00 to $95.00 in a research note on Wednesday, October 26th. Needham & Company LLC raised their price objective on shares of Calix from $82.00 to $88.00 and gave the company a buy rating in a research note on Thursday, December 22nd. StockNews.com assumed coverage on shares of Calix in a research report on Wednesday, October 12th. They set a hold rating for the company. Finally, Northland Securities raised their price target on shares of Calix from $80.00 to $85.00 in a research report on Monday, December 5th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Calix presently has a consensus rating of Moderate Buy and a consensus target price of $81.22.

Insider Activity at Calix

In other news, CFO Cory Sindelar sold 3,000 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $74.52, for a total transaction of $223,560.00. Following the completion of the sale, the chief financial officer now directly owns 69,848 shares of the company’s stock, valued at approximately $5,205,072.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Cory Sindelar sold 3,000 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $74.52, for a total transaction of $223,560.00. Following the completion of the transaction, the chief financial officer now directly owns 69,848 shares of the company’s stock, valued at approximately $5,205,072.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Matthew Collins sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $70.65, for a total transaction of $353,250.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,176 shares of company stock valued at $2,346,735. 16.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Calix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Calix by 45.9% during the first quarter. BlackRock Inc. now owns 7,446,078 shares of the communications equipment provider’s stock worth $319,511,000 after purchasing an additional 2,340,968 shares during the period. Vanguard Group Inc. grew its holdings in Calix by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,769,235 shares of the communications equipment provider’s stock valued at $352,731,000 after buying an additional 373,464 shares in the last quarter. State Street Corp grew its position in shares of Calix by 3.5% during the 3rd quarter. State Street Corp now owns 1,801,280 shares of the communications equipment provider’s stock valued at $110,130,000 after purchasing an additional 61,237 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Calix by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,711,123 shares of the communications equipment provider’s stock worth $73,422,000 after acquiring an additional 12,667 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Calix by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 1,564,912 shares of the communications equipment provider’s stock worth $67,151,000 after acquiring an additional 67,005 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.

About Calix

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Calix, Inc provides cloud and software platforms, systems and services required to realize the unified access network. The firm offers broadband communications access systems and software for fiber and copper-based network architectures that enable communications service providers to transform their networks and connect to their residential and business subscribers.

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