Roth Capital Research Analysts Lower Earnings Estimates for Calix, Inc. (NYSE:CALX)

Calix, Inc. (NYSE:CALX) – Stock analysts at Roth Capital dropped their FY2024 earnings estimates for shares of Calix in a note issued to investors on Sunday, September 15th. Roth Capital analyst S. Searle now anticipates that the communications equipment provider will post earnings of ($0.32) per share for the year, down from their prior 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.

A number of other equities research analysts have also recently issued reports on CALX. 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. Craig Hallum raised their target price 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. JPMorgan Chase & Co. lifted their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com lowered shares of Calix from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Roth Mkm lifted their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.50.

Calix Stock Performance

NYSE:CALX opened at $36.21 on Wednesday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 116.81 and a beta of 1.74. The company has a 50-day moving average of $36.72 and a 200-day moving average of $34.24. Calix has a 52 week low of $26.76 and a 52 week high of $47.15.

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

Institutional Investors Weigh In On Calix

Several institutional investors and hedge funds have recently bought and sold shares of CALX. Vanguard Group Inc. increased its stake in shares of Calix by 14.0% in the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after buying an additional 900,713 shares during the period. Dimensional Fund Advisors LP increased its position in Calix by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock valued at $63,546,000 after purchasing an additional 45,656 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after buying an additional 166,695 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Calix by 516.6% during the 4th quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after buying an additional 1,349,625 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its holdings in shares of Calix by 9.5% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock worth $47,366,000 after buying an additional 115,500 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 16.69% of the company’s stock.

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.