Calix (NYSE:CALX) Issues Q2 2024 Earnings Guidance

Calix (NYSE:CALX) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.030-0.090 for the period, compared to the consensus EPS estimate of 0.240. The company issued revenue guidance of $197.0 million-$203.0 million, compared to the consensus revenue estimate of $232.8 million. Calix also updated its Q2 guidance to $0.03-0.09 EPS.

Calix Price Performance

Shares of NYSE:CALX remained flat at $28.25 during midday trading on Thursday. The stock had a trading volume of 1,309,777 shares, compared to its average volume of 1,014,047. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 91.13 and a beta of 1.65. The stock has a fifty day moving average of $32.90 and a 200 day moving average of $37.38. Calix has a 12 month low of $26.76 and a 12 month high of $53.90.

Calix (NYSE:CALX) last issued its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 6.64% and a net margin of 2.19%. The business had revenue of $264.73 million during the quarter, compared to analyst estimates of $264.41 million. During the same period in the previous year, the company posted $0.18 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Calix will post 0.45 EPS for the current year.

Analyst Ratings Changes

CALX has been the subject of a number of research analyst reports. Jefferies Financial Group lowered Calix from a buy rating to a hold rating and decreased their target price for the company from $48.00 to $30.00 in a research report on Thursday. Rosenblatt Securities decreased their price objective on Calix from $45.00 to $35.00 and set a buy rating for the company in a report on Tuesday. Roth Mkm reissued a buy rating and set a $50.00 price objective on shares of Calix in a report on Monday. Craig Hallum decreased their price objective on Calix from $48.00 to $41.00 and set a buy rating for the company in a report on Wednesday. Finally, StockNews.com lowered Calix from a hold rating to a sell rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Calix has a consensus rating of Hold and a consensus price target of $41.33.

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.