Calnex Solutions (LON:CLX) Trading Up 0.9% – What’s Next?

Calnex Solutions plc (LON:CLX) was up 0.9% during mid-day trading on Thursday . The stock traded as high as GBX 60 and last traded at GBX 59. 229,948 shares traded hands during trading, an increase of 19% from the average daily volume of 193,598 shares. The stock had previously closed at GBX 58.50.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upped their price objective on Calnex Solutions from GBX 115 to GBX 125 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Calnex Solutions currently has an average rating of “Buy” and a consensus price target of GBX 125.

Calnex Solutions Stock Performance

The company has a current ratio of 2.80, a quick ratio of 3.22 and a debt-to-equity ratio of 3.43. The stock has a market cap of £51.57 million, a PE ratio of 73.19 and a beta of 1.05. The business’s 50-day moving average price is GBX 60.90 and its 200-day moving average price is GBX 59.56.

Calnex Solutions (LON:CLX) last posted its earnings results on Tuesday, May 26th. The company reported GBX 0.83 EPS for the quarter. Calnex Solutions had a net margin of 3.33% and a return on equity of 2.71%. The company had revenue of GBX 2,188 million during the quarter. As a group, equities research analysts expect that Calnex Solutions plc will post 0.3596909 earnings per share for the current fiscal year.

Calnex Solutions Company Profile

Calnex Solutions designs, produces and markets test and measurement instrumentation and solutions for the telecoms, cloud computing and defence industries. Calnex’s portfolio enables R&D, pre-deployment and in-service testing for network technologies and networked applications, enabling its customers to validate the performance of the critical infrastructure associated with telecoms and cloud computing networks and the applications that run on it.

To date, Calnex has secured and delivered orders in 68 countries across the world.