Calix (NYSE:CALX) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Calix (NYSE:CALX) issued its quarterly earnings data on Monday. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03, Briefing.com reports. The business had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.20%. During the same period in the prior year, the firm posted $0.15 EPS. The firm’s quarterly revenue was down 24.1% compared to the same quarter last year. Calix updated its Q3 guidance to $0.05-0.11 EPS and its Q3 2024 guidance to 0.050-0.110 EPS.

Calix Price Performance

Shares of CALX traded down $0.70 during midday trading on Wednesday, hitting $34.34. 172,091 shares of the company traded hands, compared to its average volume of 847,720. Calix has a one year low of $26.76 and a one year high of $48.53. The firm has a market cap of $2.25 billion, a P/E ratio of 113.58 and a beta of 1.76. The stock has a 50-day moving average of $34.64 and a 200-day moving average of $34.51.

Analyst Ratings Changes

A number of brokerages recently commented on CALX. JPMorgan Chase & Co. increased their price target on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday. Jefferies Financial Group lowered shares of Calix from a “buy” rating to a “hold” rating and reduced their price target for the company from $48.00 to $30.00 in a research report on Thursday, April 25th. StockNews.com cut shares of Calix from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Craig Hallum lifted 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. Finally, Roth Mkm increased their price objective on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.50.

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.