Calix (NYSE:CALX) Updates Q4 Earnings Guidance

Calix (NYSE:CALX) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.04-0.10 for the period, compared to the consensus earnings per share estimate of $0.09. The company issued revenue guidance of $201-207 million, compared to the consensus revenue estimate of $203.82 million.

Calix Stock Up 3.8 %

NYSE:CALX traded up $1.45 during mid-day trading on Monday, reaching $39.47. The company’s stock had a trading volume of 840,763 shares, compared to its average volume of 731,561. Calix has a 1 year low of $26.76 and a 1 year high of $45.15. The stock has a fifty day moving average of $37.46 and a 200-day moving average of $35.12. The firm has a market capitalization of $2.59 billion, a PE ratio of 122.65 and a beta of 1.74.

Analysts Set New Price Targets

CALX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Craig Hallum increased their price target on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Thursday, October 3rd. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.69% of the company’s stock.

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.