Calix (NYSE:CALX) issued its quarterly earnings results on Tuesday. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02, Bloomberg Earnings reports. The company had revenue of $115.52 million during the quarter, compared to the consensus estimate of $124.95 million. Calix had a negative return on equity of 18.02% and a negative net margin of 5.73%. Calix updated its Q1 2019 guidance to $-0.07–0.02 EPS.
Shares of NYSE:CALX traded down $2.78 on Wednesday, hitting $8.10. 59,234 shares of the company’s stock were exchanged, compared to its average volume of 351,555. Calix has a 12 month low of $6.00 and a 12 month high of $11.30. The company has a market cap of $587.09 million, a price-to-earnings ratio of -5.24, a price-to-earnings-growth ratio of 30.69 and a beta of 0.68.
In other news, CFO Cory Sindelar purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were purchased at an average price of $10.50 per share, for a total transaction of $52,500.00. Following the completion of the purchase, the chief financial officer now owns 40,000 shares in the company, valued at approximately $420,000. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Matthews sold 7,000 shares of the firm’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $9.76, for a total value of $68,320.00. Following the transaction, the director now owns 99,260 shares in the company, valued at approximately $968,777.60. The disclosure for this sale can be found here. 18.28% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on CALX. Zacks Investment Research downgraded Calix from a “buy” rating to a “hold” rating in a research report on Monday. TheStreet upgraded Calix from a “d” rating to a “c” rating in a research report on Friday, November 23rd. ValuEngine upgraded Calix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 6th. Finally, Cowen upgraded Calix from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $9.17.
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Calix Company Profile
Calix, Inc, together with its subsidiaries, develops, markets, and sells software platforms, systems, and software for fiber- and copper-based network architectures that enable communications service providers (CSPs) to access networks. Its portfolio consists of E-Series access systems and nodes, B-Series access nodes, C-Series multiservice access system, and P-Series optical network terminals and residential gateways.
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