Zacks: Brokerages Expect Calix Inc (CALX) Will Post Quarterly Sales of $142.34 Million

Brokerages expect Calix Inc (NYSE:CALX) to report $142.34 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Calix’s earnings, with estimates ranging from $140.42 million to $144.10 million. Calix posted sales of $131.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, February 13th.

According to Zacks, analysts expect that Calix will report full year sales of $142.34 million for the current year, with estimates ranging from $512.89 million to $516.60 million. For the next fiscal year, analysts forecast that the business will report sales of $543.95 million per share, with estimates ranging from $536.00 million to $555.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Calix.

CALX has been the topic of several analyst reports. Zacks Investment Research cut Calix from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. ValuEngine upgraded Calix from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, BidaskClub upgraded Calix from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Calix has an average rating of “Hold” and a consensus price target of $6.50.

Shares of Calix (NYSE:CALX) opened at $6.10 on Monday. Calix has a 1 year low of $4.65 and a 1 year high of $7.75.

In other news, CFO Cory Sindelar purchased 5,974 shares of the stock in a transaction dated Tuesday, November 28th. The shares were bought at an average cost of $6.95 per share, for a total transaction of $41,519.30. Following the transaction, the chief financial officer now owns 15,000 shares in the company, valued at $104,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.50% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Calix by 2.7% during the 2nd quarter. Wells Fargo & Company MN now owns 28,054 shares of the communications equipment provider’s stock worth $192,000 after acquiring an additional 729 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Calix by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 160,938 shares of the communications equipment provider’s stock worth $1,103,000 after buying an additional 1,102 shares during the period. Voya Investment Management LLC boosted its position in shares of Calix by 15.5% in the second quarter. Voya Investment Management LLC now owns 27,603 shares of the communications equipment provider’s stock worth $189,000 after buying an additional 3,696 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Calix by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 37,558 shares of the communications equipment provider’s stock worth $257,000 after buying an additional 3,961 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Calix by 55.4% in the second quarter. Parametric Portfolio Associates LLC now owns 30,850 shares of the communications equipment provider’s stock worth $211,000 after buying an additional 11,001 shares during the period. 67.21% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Expect Calix Inc (CALX) Will Post Quarterly Sales of $142.34 Million” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of international copyright legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/02/12/zacks-brokerages-expect-calix-inc-calx-will-post-quarterly-sales-of-142-34-million.html.

About Calix

Calix, Inc provides broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

Get a free copy of the Zacks research report on Calix (CALX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Calix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply