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

Calix (NYSE:CALX) posted its earnings results on Monday. The communications equipment provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02, FiscalAI reports. The business had revenue of $301.71 million during the quarter, compared to the consensus estimate of $304.23 million. Calix had a return on equity of 6.17% and a net margin of 4.61%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS.

Calix Stock Performance

Shares of CALX opened at $36.08 on Tuesday. Calix has a fifty-two week low of $32.35 and a fifty-two week high of $69.73. The firm has a 50-day simple moving average of $36.12 and a 200-day simple moving average of $42.57. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 48.76 and a beta of 1.32.

Wall Street Analyst Weigh In

CALX has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target 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 reiterated a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. Zacks Research raised Calix from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Rosenblatt Securities decreased their price objective on Calix from $70.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Calix from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Calix currently has an average rating of “Moderate Buy” and a consensus price target 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.