Jefferies Financial Group Analysts Decrease Earnings Estimates for Calix Inc (NYSE:CALX)

Calix Inc (NYSE:CALX) – Investment analysts at Jefferies Financial Group cut their FY2019 earnings per share (EPS) estimates for shares of Calix in a research note issued on Wednesday, October 23rd. Jefferies Financial Group analyst G. Notter now anticipates that the communications equipment provider will post earnings of ($0.16) per share for the year, down from their previous estimate of ($0.10). Jefferies Financial Group also issued estimates for Calix’s Q4 2019 earnings at $0.03 EPS, Q1 2020 earnings at ($0.10) EPS, Q2 2020 earnings at ($0.03) EPS, Q3 2020 earnings at $0.01 EPS, Q4 2020 earnings at $0.07 EPS, FY2020 earnings at ($0.05) EPS, Q1 2021 earnings at ($0.05) EPS, Q2 2021 earnings at $0.03 EPS, Q3 2021 earnings at $0.10 EPS and FY2021 earnings at $0.19 EPS.

Several other research firms have also issued reports on CALX. Zacks Investment Research lowered Calix from a “buy” rating to a “hold” rating in a report on Friday. Northland Securities reissued a “buy” rating and set a $9.00 target price on shares of Calix in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.75.

CALX opened at $7.95 on Monday. The firm has a market cap of $424.12 million, a P/E ratio of -24.09 and a beta of 0.66. Calix has a 52-week low of $5.60 and a 52-week high of $11.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 1.15. The business’s fifty day moving average is $6.60 and its 200-day moving average is $6.50.

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new stake in Calix in the second quarter valued at about $25,000. Horrell Capital Management Inc. boosted its stake in Calix by 25.0% in the second quarter. Horrell Capital Management Inc. now owns 600,100 shares of the communications equipment provider’s stock valued at $3,937,000 after buying an additional 120,100 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Calix in the second quarter valued at about $205,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Calix by 20.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 132,475 shares of the communications equipment provider’s stock valued at $869,000 after buying an additional 22,150 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Calix by 1.5% in the second quarter. BlackRock Inc. now owns 4,373,027 shares of the communications equipment provider’s stock valued at $28,686,000 after buying an additional 62,630 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

In other Calix news, Director Donald J. Listwin acquired 16,352 shares of Calix stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $5.96 per share, with a total value of $97,457.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Daniel Plants acquired 14,346 shares of Calix stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average cost of $5.88 per share, for a total transaction of $84,354.48. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 70,298 shares of company stock worth $414,046. 18.57% of the stock is currently owned by insiders.

Calix Company Profile

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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Earnings History and Estimates for Calix (NYSE:CALX)

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