Calix’s (CALX) Buy Rating Reaffirmed at Rosenblatt Securities

Calix (NYSE:CALX)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $55.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities‘s price objective would suggest a potential upside of 64.95% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, October 26th. Wall Street Zen raised shares of Calix from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Roth Capital reaffirmed a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. JPMorgan Chase & Co. dropped their target price on shares of Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Northland Securities raised shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a research note on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Calix currently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Calix Stock Performance

CALX opened at $33.34 on Wednesday. The company has a market capitalization of $2.10 billion, a PE ratio of 49.03 and a beta of 1.21. The stock’s fifty day moving average is $35.99 and its 200-day moving average is $42.46. Calix has a one year low of $32.35 and a one year high of $68.18.

Calix (NYSE:CALX) last announced its earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $301.71 million during the quarter, compared to analysts’ expectations of $304.23 million. Calix had a return on equity of 5.53% and a net margin of 3.99%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. On average, equities research analysts forecast that Calix will post 0.89 EPS for the current fiscal year.

Institutional Trading of Calix

A number of hedge funds have recently bought and sold shares of CALX. Strs Ohio lifted its holdings in shares of Calix by 1.5% in the first quarter. Strs Ohio now owns 20,600 shares of the communications equipment provider’s stock valued at $1,009,000 after purchasing an additional 300 shares in the last quarter. Inspire Investing LLC raised its position in Calix by 1.8% during the third quarter. Inspire Investing LLC now owns 18,681 shares of the communications equipment provider’s stock valued at $642,000 after buying an additional 338 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in Calix by 254.0% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 630 shares during the period. Hsbc Holdings PLC raised its position in Calix by 3.5% during the first quarter. Hsbc Holdings PLC now owns 19,140 shares of the communications equipment provider’s stock valued at $940,000 after buying an additional 647 shares during the period. Finally, Covestor Ltd lifted its stake in Calix by 85.4% in the 3rd quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 666 shares in the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix News Summary

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Calix reported Q3 adjusted EPS of $0.44, above the $0.42 consensus estimate. Revenue increased 13.7% year over year, indicating continued growth. Calix Q3 Earnings Beat Estimates
• Positive Sentiment: Q4 EPS guidance of $0.41–$0.49 is above analysts’ $0.40 estimate, suggesting the company expects earnings to improve. Calix Q3 Revenue Rises; Issues Q4 Guidance
• Neutral Sentiment: Q4 revenue guidance of $311 million–$317 million brackets the $314.5 million consensus, while full-year revenue guidance of $1.2 billion matches expectations. Calix Q3 Revenue Rises; Issues Q4 Guidance
• Negative Sentiment: Q3 revenue of $301.7 million missed the $304.2 million analyst estimate, and EPS was unchanged from a year earlier. The revenue miss tempers the earnings beat. Calix Stock Drops After Q3 Results Expose Profit Pressure
• Negative Sentiment: Coverage of the earnings call highlighted margin pressure, and separate commentary characterized the stock as still overvalued despite its prior decline—risks that may weigh on investor sentiment. Calix Earnings Call Signals Growth Despite Margin Pressures

Calix Company Profile

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.