Calix (NYSE:CALX) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Calix beat earnings expectations: The company reported quarterly EPS of $0.44, exceeding the $0.42 consensus estimate by $0.02. Revenue was $301.71 million, slightly below analysts’ $304.23 million forecast.
• Shares remained under pressure: Calix stock fell $0.74 to $36.08, near its 52-week low of $32.35 and well below its 52-week high of $69.73.
• Analyst sentiment is moderately bullish: Five analysts rate Calix a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $57.40, despite several recent target-price cuts.

Calix (NYSE:CALX - Get Free Report) issued its quarterly earnings results on Monday. The communications equipment provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $301.71 million during the quarter, compared to analysts' expectations of $304.23 million.

Calix Price Performance

NYSE:CALX traded down $0.74 during trading hours on Monday, reaching $36.08. 1,737,103 shares of the company were exchanged, 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 52-week low of $32.35 and a 52-week high of $69.73. The stock has a 50 day simple moving average of $36.20 and a 200 day simple moving average of $42.66.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CALX shares. Rosenblatt Securities dropped their price objective on shares of Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. reduced their target price on Calix from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Roth Capital reaffirmed a "buy" rating on shares of Calix in a research note on Tuesday, July 21st. Weiss Ratings lowered shares of Calix from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, October 26th. Finally, Northland Securities raised shares of Calix from a "market perform" rating to an "outperform" rating and set a $52.00 price target on the stock in a research note on Tuesday, July 21st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Calix presently has an average rating of "Moderate Buy" and an average target price 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.

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