Calix (NYSE:CALX) Releases Q2 Earnings Guidance

Calix (NYSE:CALX) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.03-0.09 for the period, compared to the consensus EPS estimate of $0.24. The company issued revenue guidance of $197-203 million, compared to the consensus revenue estimate of $232.76 million. Calix also updated its Q2 2024 guidance to 0.030-0.090 EPS.

Calix Price Performance

Calix stock opened at $28.00 on Wednesday. The stock has a market capitalization of $1.83 billion, a P/E ratio of 90.32 and a beta of 1.65. Calix has a 12-month low of $26.76 and a 12-month high of $53.90. The firm’s 50-day moving average is $33.16 and its two-hundred 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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $264.41 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Calix will post 0.45 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.