Calix Reaches New 1-Year Low Following Weak Earnings (CALX)
Calix (NASDAQ:CALX) shares reached a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings, Analyst Ratings.Net reports. The stock traded as low as $7.12 and last traded at $7.54, with a volume of 2,031,063 shares trading hands. The stock had previously closed at $7.95.
The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.04. The company had revenue of $94.00 million for the quarter, compared to the consensus estimate of $100.45 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis.
Separately, analysts at UBS AG cut their price target on shares of Calix from $12.50 to $11.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $12.90.
The stock’s 50-day moving average is $8.58 and its 200-day moving average is $10.88. The company’s market cap is $372.3 million.
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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