Calix (NYSE:CALX) Releases Earnings Results, Misses Expectations By $0.20 EPS

Calix (NYSE:CALX) issued its quarterly earnings data on Monday. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.20), Zacks reports. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%.

Calix Stock Performance

Shares of Calix stock traded down $0.58 during trading on Monday, reaching $33.26. 1,557,153 shares of the company’s stock were exchanged, compared to its average volume of 665,876. Calix has a 1-year low of $26.76 and a 1-year high of $42.50. The firm’s 50-day moving average price is $35.25 and its 200 day moving average price is $35.80. The company has a market cap of $2.22 billion, a P/E ratio of -73.91 and a beta of 1.75.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now owns 2,164,188 shares of the company’s stock, valued at $82,563,772.20. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CALX. JPMorgan Chase & Co. dropped their price objective on Calix from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.33.

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.