Calix (NYSE:CALX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Calix (NYSE:CALX) released its quarterly earnings results on Monday. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $201.06 million. During the same period in the prior year, the firm earned $0.25 earnings per share. Calix’s revenue was down 23.8% compared to the same quarter last year. Calix updated its Q4 guidance to $0.04-0.10 EPS and its Q4 2024 guidance to 0.040-0.100 EPS.

Calix Price Performance

CALX traded down $1.49 during mid-day trading on Wednesday, hitting $36.25. The stock had a trading volume of 681,908 shares, compared to its average volume of 733,540. The stock’s fifty day simple moving average is $37.49 and its 200-day simple moving average is $35.24. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -151.04 and a beta of 1.74. Calix has a 1-year low of $26.76 and a 1-year high of $45.15.

Wall Street Analyst Weigh In

CALX has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Roth Mkm increased their price objective on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Tuesday. Craig Hallum increased their price objective on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Insiders Place Their Bets

In related news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the sale, the director now directly owns 3,723,381 shares in the company, valued at $139,850,190.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 17.04% of the company’s stock.

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.