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

Calix (NYSE:CALX) announced its quarterly earnings results on Monday. The communications equipment provider reported $0.13 earnings per share (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 company had revenue of $200.95 million for the quarter, compared to analysts’ expectations of $201.06 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. Calix’s quarterly revenue was down 23.8% on a year-over-year basis. Calix updated its Q4 guidance to $0.04-0.10 EPS and its Q4 2024 guidance to 0.040-0.100 EPS.

Calix Trading Down 4.6 %

CALX traded down $1.81 during midday trading on Tuesday, reaching $37.66. The company’s stock had a trading volume of 287,601 shares, compared to its average volume of 729,655. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 120.32 and a beta of 1.74. Calix has a 1 year low of $26.76 and a 1 year high of $45.15. The stock’s 50-day moving average is $37.51 and its 200-day moving average is $35.18.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CALX. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. Roth Mkm boosted their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Tuesday. Finally, Craig Hallum boosted their price target on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Calix has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the sale, the director now owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.