Calix (NYSE:CALX) Issues Earnings Results

Calix (NYSE:CALX) released its earnings results on Monday. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03, Briefing.com reports. The firm had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a return on equity of 4.20% and a net margin of 0.52%. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. Calix updated its Q3 guidance to $0.05-0.11 EPS and its Q3 2024 guidance to 0.050-0.110 EPS.

Calix Price Performance

CALX stock opened at $34.64 on Thursday. Calix has a 52-week low of $26.76 and a 52-week high of $48.53. The company has a 50-day moving average of $34.71 and a two-hundred day moving average of $34.51. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 111.74 and a beta of 1.76.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CALX. JPMorgan Chase & Co. upped their target price on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday. Rosenblatt Securities upped their price target on Calix from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com cut Calix from a “hold” rating to a “sell” rating in a report on Wednesday. Jefferies Financial Group cut Calix from a “buy” rating to a “hold” rating and dropped their price target for the company from $48.00 to $30.00 in a report on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” 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.