Calix (NYSE:CALX) Announces Quarterly Earnings Results

Calix (NYSE:CALX) released its quarterly earnings data on Monday. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02, FiscalAI reports. Calix had a net margin of 4.61% and a return on equity of 6.17%. The company had revenue of $301.71 million during the quarter, compared to the consensus estimate of $304.23 million.

Calix Trading Down 2.0%

Calix stock traded down $0.74 during mid-day trading on Monday, reaching $36.08. The company’s stock had a trading volume of 1,737,103 shares, compared to its average volume of 1,092,128. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 48.76 and a beta of 1.21. Calix has a twelve month low of $32.35 and a twelve month high of $69.73. The business has a 50 day moving average price of $36.20 and a 200-day moving average price of $42.66.

Analysts Set New Price Targets

Several research analysts have commented on CALX shares. Weiss Ratings lowered Calix from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, October 26th. Zacks Research upgraded Calix from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. dropped their target price on Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Northland Securities raised Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a research report on Tuesday, July 21st. Finally, Rosenblatt Securities reduced their target price on shares of Calix from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.40.

Calix Company Profile

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.