Calix, Inc. (NYSE:CALX) Receives $42.50 Consensus PT from Analysts

Calix, Inc. (NYSE:CALX) has received an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $42.50.

A number of research firms recently commented on CALX. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Thursday, October 3rd. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Tuesday, October 29th. Finally, Craig Hallum increased their price objective on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th.

Calix Stock Down 5.9 %

Calix stock opened at $30.43 on Thursday. Calix has a twelve month low of $26.76 and a twelve month high of $45.15. The business has a fifty day moving average of $36.39 and a two-hundred day moving average of $35.66. The firm has a market cap of $2.02 billion, a P/E ratio of -126.79 and a beta of 1.75.

Calix (NYSE:CALX) last issued its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. 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 company earned $0.25 earnings per share. Equities analysts expect that Calix will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Calix

Several institutional investors have recently made changes to their positions in the company. Epoch Investment Partners Inc. boosted its position in Calix by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock worth $38,600,000 after purchasing an additional 219,699 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in Calix in the 1st quarter valued at about $669,000. Vanguard Group Inc. boosted its holdings in Calix by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after buying an additional 900,713 shares during the last quarter. Mesirow Institutional Investment Management Inc. increased its stake in Calix by 8.9% during the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 358,647 shares of the communications equipment provider’s stock worth $12,707,000 after buying an additional 29,367 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Calix by 9.2% during the second quarter. Kornitzer Capital Management Inc. KS now owns 812,053 shares of the communications equipment provider’s stock valued at $28,771,000 after acquiring an additional 68,300 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Company Profile

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.