Calix (NYSE:CALX) Releases Q4 2024 Earnings Guidance

Calix (NYSE:CALX) 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 Trading Down 4.6 %

Shares of NYSE:CALX traded down $1.82 during trading on Tuesday, hitting $37.65. 164,530 shares of the company’s stock traded hands, compared to its average volume of 729,237. The company has a 50-day moving average price of $37.51 and a 200-day moving average price of $35.18. Calix has a 52 week low of $26.76 and a 52 week high of $45.15. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 122.19 and a beta of 1.74.

Calix (NYSE:CALX) last posted its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Calix had a return on equity of 4.17% and a net margin of 0.52%. The firm had revenue of $200.95 million during the quarter, compared to the consensus estimate of $201.06 million. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue was down 23.8% compared to the same quarter last year. On average, analysts predict that Calix will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Roth Mkm upped their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Craig Hallum lifted their target price on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.