Calix Inc (NYSE:CALX) Expected to Post Earnings of $0.20 Per Share

Brokerages expect that Calix Inc (NYSE:CALX) will announce earnings of $0.20 per share for the current quarter, Zacks reports. Two analysts have made estimates for Calix’s earnings, with estimates ranging from $0.19 to $0.22. Calix posted earnings of $0.06 per share during the same quarter last year, which indicates a positive year over year growth rate of 233.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 27th.

On average, analysts expect that Calix will report full year earnings of $0.52 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.59. For the next year, analysts forecast that the firm will report earnings of $0.64 per share, with EPS estimates ranging from $0.60 to $0.71. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Calix.

Calix (NYSE:CALX) last posted its earnings results on Tuesday, July 21st. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.07. The company had revenue of $119.02 million for the quarter, compared to analysts’ expectations of $113.10 million. Calix had a positive return on equity of 1.81% and a negative net margin of 3.08%.

A number of equities research analysts recently weighed in on the stock. Northland Securities restated a “buy” rating and set a $22.00 price objective (up from $16.00) on shares of Calix in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Craig Hallum lifted their price objective on shares of Calix from $14.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, lifted their target price on Calix to $10.85 and gave the stock a “buy” rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Calix currently has a consensus rating of “Buy” and an average price target of $17.37.

In other news, Director Donald J. Listwin purchased 22,955 shares of Calix stock in a transaction dated Monday, August 24th. The stock was acquired at an average cost of $19.98 per share, for a total transaction of $458,640.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.54% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in CALX. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Calix by 40.1% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,226,569 shares of the communications equipment provider’s stock valued at $33,176,000 after buying an additional 637,239 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in Calix in the 2nd quarter worth approximately $7,756,000. Hillsdale Investment Management Inc. acquired a new stake in Calix in the 1st quarter worth approximately $3,015,000. Bank of New York Mellon Corp lifted its holdings in Calix by 226.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 579,328 shares of the communications equipment provider’s stock worth $8,632,000 after purchasing an additional 401,834 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Calix in the 2nd quarter worth approximately $5,668,000. Institutional investors and hedge funds own 72.65% of the company’s stock.

CALX stock traded down $0.18 during mid-day trading on Thursday, reaching $18.55. The company had a trading volume of 12,359 shares, compared to its average volume of 661,710. Calix has a one year low of $5.61 and a one year high of $22.69. The stock’s 50-day simple moving average is $20.21 and its two-hundred day simple moving average is $13.71. The stock has a market capitalization of $1.09 billion, a P/E ratio of -78.04 and a beta of 1.53.

About Calix

Calix, Inc, together with its subsidiaries, provides cloud and software platforms, systems and services required to deliver the unified access network. The company's cloud and software platforms, systems, and services enable communication service providers (CSP) to provide a range of services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

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Earnings History and Estimates for Calix (NYSE:CALX)

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