Calix Inc. (CALX) Issues Q4 Earnings Guidance
Calix Inc. (NASDAQ:CALX) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.02-0.04 for the period, compared to the Thomson Reuters consensus estimate of $0.07, ARN reports. The company issued revenue guidance of $93.5-94.5 million, compared to the consensus revenue estimate of $100.41 million.
A number of research firms have recently commented on CALX. Analysts at Goldman Sachs Group Inc. reiterated a sell rating on shares of Calix in a research note to investors on Wednesday, October 30th. They now have a $12.00 price target on the stock. On a related note, analysts at Evercore Partners cut their price target on shares of Calix from $15.00 to $14.00 in a research note to investors on Wednesday, October 30th. They now have an overweight rating on the stock. Finally, analysts at Raymond James downgraded shares of Calix from an outperform rating to a market perform rating in a research note to investors on Wednesday, October 30th. They now have a $12.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Calix has an average rating of Hold and a consensus target price of $13.57.
Calix Inc. (NASDAQ:CALX) traded down 0.54% on Wednesday, hitting $9.24. 335,788 shares of the company’s stock traded hands. Calix Inc. has a 1-year low of $7.26 and a 1-year high of $13.98. The stock’s 50-day moving average is $9.71 and its 200-day moving average is $11.36. The company’s market cap is $459.9 million.
Calix (NASDAQ:CALX) last released its earnings data on Tuesday, October 29th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.06. The company had revenue of $103.60 million for the quarter, compared to the consensus estimate of $104.35 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 27.4% on a year-over-year basis. On average, analysts predict that Calix Inc. will post $0.43 earnings per share for the current fiscal year.
Calix, Inc (NASDAQ:CALX) is a provider in North America of broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs) to connect to their residential and business subscribers.
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