Calix (NYSE:CALX) Issues Q2 2024 Earnings Guidance

Calix (NYSE:CALX) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.030-0.090 for the period, compared to the consensus EPS estimate of 0.240. The company issued revenue guidance of $197.0 million-$203.0 million, compared to the consensus revenue estimate of $232.8 million. Calix also updated its Q2 guidance to $0.03-0.09 EPS.

Analyst Ratings Changes

Several research firms have weighed in on CALX. Roth Mkm reissued a buy rating and issued a $50.00 price target on shares of Calix in a research note on Monday. Needham & Company LLC reiterated a buy rating and set a $50.00 price target on shares of Calix in a research report on Tuesday. StockNews.com upgraded shares of Calix from a sell rating to a hold rating in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities reduced their price target on shares of Calix from $45.00 to $35.00 and set a buy rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $44.25.

Calix Trading Down 1.0 %

CALX traded down $0.29 during midday trading on Wednesday, reaching $27.74. The company’s stock had a trading volume of 123,066 shares, compared to its average volume of 996,262. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 90.32 and a beta of 1.65. Calix has a 1 year low of $26.76 and a 1 year high of $53.90. The stock’s 50-day moving average is $33.16 and its 200-day moving average is $37.51.

Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a net margin of 2.19% and a return on equity of 6.65%. The business had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Calix will post 0.45 earnings per share for the current fiscal year.

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.