Calix (NYSE:CALX) Updates Q2 Earnings Guidance

Calix (NYSE:CALX) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.03-0.09 for the period, compared to the consensus earnings per share estimate of $0.24. The company issued revenue guidance of $197-203 million, compared to the consensus revenue estimate of $232.76 million. Calix also updated its Q2 2024 guidance to 0.030-0.090 EPS.

Calix Stock Down 5.3 %

CALX stock opened at $28.00 on Wednesday. The stock has a market capitalization of $1.83 billion, a PE ratio of 90.32 and a beta of 1.65. Calix has a 52 week low of $26.76 and a 52 week high of $53.90. The firm has a 50 day moving average of $33.16 and a 200 day moving average of $37.51.

Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.65%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities research analysts expect that Calix will post 0.45 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on CALX shares. Needham & Company LLC reissued a buy rating and set a $50.00 target price on shares of Calix in a research note on Tuesday. Roth Mkm reiterated a buy rating and set a $50.00 price objective on shares of Calix in a research note on Monday. Rosenblatt Securities dropped their price target on Calix from $45.00 to $35.00 and set a buy rating for the company in a research report on Tuesday. Finally, StockNews.com raised shares of Calix from a sell rating to a hold rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $44.25.

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.