Calix (NYSE:CALX) Updates Q4 2024 Earnings Guidance

Calix (NYSE:CALX) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.040-0.100 for the period, compared to the consensus EPS estimate of 0.090. The company issued revenue guidance of $201.0 million-$207.0 million. Calix also updated its Q4 guidance to $0.04-0.10 EPS.

Calix Trading Down 1.7 %

Shares of NYSE:CALX traded down $0.65 during mid-day trading on Wednesday, reaching $37.09. The stock had a trading volume of 201,558 shares, compared to its average volume of 731,215. Calix has a 1 year low of $26.76 and a 1 year high of $45.15. The business’s 50 day moving average price is $37.51 and its 200 day moving average price is $35.23. The company has a market cap of $2.44 billion, a P/E ratio of -157.25 and a beta of 1.74.

Calix (NYSE:CALX) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $200.95 million for the quarter, compared to analysts’ expectations of $201.06 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The company’s quarterly revenue was down 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Analysts predict that Calix will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on CALX. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Craig Hallum raised their target price on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Calix in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction 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 directly owns 3,723,381 shares in the company, valued at $139,850,190.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.04% of the stock is owned by company insiders.

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.