Calix (NYSE:CALX) Releases Q2 2024 Earnings Guidance

Calix (NYSE:CALX) 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 opened at $29.54 on Tuesday. Calix has a 52-week low of $28.95 and a 52-week high of $53.90. The business’s 50-day moving average price is $33.27 and its 200 day moving average price is $37.62. The firm has a market cap of $1.93 billion, a P/E ratio of 65.65 and a beta of 1.65.

Calix (NYSE:CALX) last announced its quarterly 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. Calix had a return on equity of 7.92% and a net margin of 3.06%. The business had revenue of $264.73 million during the quarter, compared to analyst estimates of $264.41 million. During the same period in the previous year, the company earned $0.18 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Calix will post 0.45 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on CALX. Rosenblatt Securities reduced their target price on Calix from $57.00 to $45.00 and set a buy rating for the company in a report on Tuesday, January 30th. StockNews.com upgraded Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Needham & Company LLC reiterated a buy rating and set a $50.00 price target on shares of Calix in a report on Wednesday, April 17th. Finally, Roth Mkm reiterated a buy rating and set a $50.00 price target on shares of Calix in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Calix currently has an average rating of Moderate Buy and a consensus price target 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.