Calix (NYSE:CALX) Issues Quarterly Earnings Results

Calix (NYSE:CALX - Get Free Report) posted its quarterly earnings data on Monday. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.04, Briefing.com reports. Calix had a return on equity of 4.17% and a net margin of 0.52%. The company had revenue of $200.95 million during the quarter, compared to analyst estimates of $201.06 million. During the same quarter last year, the company earned $0.25 EPS. The firm's revenue for the quarter 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 Price Performance

Shares of NYSE:CALX traded down $1.73 during trading on Tuesday, hitting $37.74. 1,115,520 shares of the company's stock were exchanged, compared to its average volume of 733,422. The business's 50-day simple moving average is $37.51 and its 200 day simple moving average is $35.23. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -157.25 and a beta of 1.74. Calix has a 52-week low of $26.76 and a 52-week high of $45.15.

Insiders Place Their Bets

In related news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the transaction, the director now directly owns 3,723,381 shares of the company's stock, valued at approximately $139,850,190.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CALX. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a "neutral" rating in a report on Monday, July 22nd. Craig Hallum boosted their price target 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 report on Thursday, October 3rd. Roth Mkm lifted their price objective on Calix from $43.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Calix from a "sell" rating to a "hold" rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $42.50.

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.