Calix (NYSE:CALX) Issues Q2 2024 Earnings Guidance

Calix (NYSE:CALX - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.030-0.090 for the period, compared to the consensus 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 Stock Up 0.9 %

NYSE:CALX traded up $0.26 during mid-day trading on Monday, reaching $29.54. 1,434,790 shares of the company were exchanged, compared to its average volume of 988,690. Calix has a 12 month low of $28.95 and a 12 month high of $53.90. The company has a fifty day moving average of $33.27 and a 200 day moving average of $37.62. The stock has a market cap of $1.93 billion, a PE ratio of 65.65 and a beta of 1.65.

Calix (NYSE:CALX - Get Free Report) last issued its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. Calix had a net margin of 3.06% and a return on equity of 7.92%. The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. On average, equities research analysts anticipate that Calix will post 0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

CALX has been the topic of several recent research reports. Rosenblatt Securities reduced their target price on shares of Calix from $57.00 to $45.00 and set a buy rating on the stock in a research note on Tuesday, January 30th. Needham & Company LLC reaffirmed a buy rating and issued a $50.00 target price on shares of Calix in a research note on Wednesday, April 17th. StockNews.com upgraded shares of Calix from a sell rating to a hold rating in a research report on Wednesday, February 28th. Finally, Roth Mkm reiterated a buy rating and issued a $50.00 price target on shares of Calix in a research report on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $46.75.

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.