Analysts predict that Calix Inc (NYSE:CALX) will announce $99.95 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Calix’s earnings. The highest sales estimate is $100.00 million and the lowest is $99.90 million. Calix posted sales of $111.70 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 10.5%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Calix will report full-year sales of $438.80 million for the current fiscal year. For the next fiscal year, analysts forecast that the firm will post sales of $492.30 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Calix.
Calix (NYSE:CALX) last posted its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.06). Calix had a negative return on equity of 8.16% and a negative net margin of 4.02%. The business had revenue of $89.35 million during the quarter, compared to analysts’ expectations of $102.95 million.
CALX has been the topic of several recent research reports. ValuEngine raised William Lyon Homes from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 10th. Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.38.
Shares of CALX traded up $0.04 during mid-day trading on Friday, hitting $7.03. 5,179 shares of the stock were exchanged, compared to its average volume of 218,341. The stock has a market cap of $373.56 million, a P/E ratio of -21.38 and a beta of 0.67. Calix has a 52-week low of $5.97 and a 52-week high of $11.30. The stock has a 50-day simple moving average of $6.44. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.23.
In other news, Director Michael Matthews sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $7.09, for a total transaction of $92,170.00. Following the transaction, the director now owns 79,260 shares of the company’s stock, valued at approximately $561,953.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director J Daniel Plants bought 25,311 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average cost of $6.21 per share, for a total transaction of $157,181.31. The disclosure for this purchase can be found here. Insiders have sold a total of 19,106 shares of company stock worth $132,470 over the last ninety days. Insiders own 18.57% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CALX. Lord Abbett & CO. LLC bought a new position in shares of Calix during the 4th quarter valued at approximately $9,662,000. BlackRock Inc. grew its position in Calix by 25.0% in the 4th quarter. BlackRock Inc. now owns 4,180,423 shares of the communications equipment provider’s stock valued at $40,759,000 after acquiring an additional 835,684 shares during the last quarter. Millennium Management LLC bought a new position in Calix in the 4th quarter valued at $5,266,000. Geode Capital Management LLC grew its position in Calix by 97.6% in the 4th quarter. Geode Capital Management LLC now owns 982,700 shares of the communications equipment provider’s stock valued at $9,580,000 after acquiring an additional 485,357 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Calix by 289.2% in the 1st quarter. Acadian Asset Management LLC now owns 567,814 shares of the communications equipment provider’s stock valued at $4,372,000 after acquiring an additional 421,922 shares during the last quarter. 66.00% of the stock is currently owned by hedge funds and other institutional investors.
Calix, Inc, together with its subsidiaries, provides cloud and software platforms, systems and services required to deliver the unified access network. The company's cloud and software platforms, systems, and services enable communication service providers (CSP) to provide a range of services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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