FY2024 Earnings Estimate for Calix, Inc. (NYSE:CALX) Issued By Roth Capital

Calix, Inc. (NYSE:CALX) – Equities researchers at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for Calix in a research note issued to investors on Sunday, September 15th. Roth Capital analyst S. Searle now forecasts that the communications equipment provider will earn ($0.32) per share for the year, down from their previous forecast of ($0.30). The consensus estimate for Calix’s current full-year earnings is ($0.36) per share. Roth Capital also issued estimates for Calix’s Q4 2024 earnings at ($0.11) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.11) EPS.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Craig Hallum upped their price objective on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Tuesday, September 10th. Rosenblatt Securities boosted their target price on Calix from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded Calix from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.50.

Calix Stock Up 6.7 %

Shares of Calix stock opened at $38.64 on Wednesday. Calix has a 52 week low of $26.76 and a 52 week high of $47.15. The firm’s 50 day moving average is $36.77 and its two-hundred day moving average is $34.25. The firm has a market capitalization of $2.53 billion, a P/E ratio of 124.35 and a beta of 1.74.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Calix had a return on equity of 4.17% and a net margin of 0.52%. The business had revenue of $198.14 million for the quarter, compared to the consensus estimate of $200.77 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue for the quarter was down 24.1% on a year-over-year basis.

Institutional Investors Weigh In On Calix

Several hedge funds have recently modified their holdings of CALX. Headlands Technologies LLC acquired a new position in Calix in the 1st quarter valued at $48,000. TFO Wealth Partners LLC increased its stake in shares of Calix by 13,787.5% during the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 1,103 shares during the period. Ariadne Wealth Management LP acquired a new position in shares of Calix during the second quarter worth about $60,000. Nisa Investment Advisors LLC raised its holdings in Calix by 13.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after purchasing an additional 303 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Calix by 41.5% in the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 655 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the transaction, the director now owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 16.69% of the company’s stock.

About Calix

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.