Calix (NYSE:CALX) Updates Q4 2024 Earnings Guidance

Calix (NYSE:CALX - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.040-0.100 for the period, compared to the consensus earnings per share estimate of 0.090. The company issued revenue guidance of $201.0 million-$207.0 million. Calix also updated its Q4 guidance to $0.04-0.10 EPS.

Calix Price Performance

Shares of CALX stock traded up $1.42 on Monday, hitting $39.44. The stock had a trading volume of 921,758 shares, compared to its average volume of 731,564. The firm has a market capitalization of $2.58 billion, a P/E ratio of 127.23 and a beta of 1.74. Calix has a 1 year low of $26.76 and a 1 year high of $45.15. The company's 50 day moving average price is $37.51 and its 200-day moving average price is $35.18.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Roth Mkm upped their price target on Calix from $43.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. StockNews.com raised Calix from a "sell" rating to a "hold" rating in a research report on Tuesday, October 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price objective on shares of Calix in a research report on Tuesday, September 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $45.00 price objective on shares of Calix in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Calix from $28.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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 stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.69% of the stock is owned by insiders.

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.

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