Jefferies Financial Group Comments on Calix Inc’s Q1 2020 Earnings (CALX)

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Calix Inc (NYSE:CALX) – Analysts at Jefferies Financial Group issued their Q1 2020 earnings per share estimates for shares of Calix in a research report issued to clients and investors on Tuesday, November 6th. Jefferies Financial Group analyst G. Notter forecasts that the communications equipment provider will post earnings per share of ($0.08) for the quarter. Jefferies Financial Group has a “Hold” rating and a $6.50 price target on the stock. Jefferies Financial Group also issued estimates for Calix’s Q2 2020 earnings at $0.02 EPS, Q3 2020 earnings at $0.08 EPS and FY2020 earnings at $0.16 EPS.

Other analysts have also issued reports about the stock. Cowen upgraded shares of Calix from a “market perform” rating to an “outperform” rating in a research note on Tuesday. ValuEngine upgraded shares of Calix from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Calix presently has an average rating of “Buy” and an average target price of $7.67.

CALX stock opened at $10.26 on Thursday. Calix has a fifty-two week low of $5.55 and a fifty-two week high of $10.40. The company has a market cap of $520.14 million, a P/E ratio of -6.58 and a beta of 0.78.

Calix (NYSE:CALX) last released its earnings results on Tuesday, August 7th. The communications equipment provider reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05. Calix had a negative net margin of 5.73% and a negative return on equity of 18.02%. The firm had revenue of $111.70 million for the quarter, compared to analyst estimates of $113.70 million.

In other Calix news, Director Kevin A. Denuccio purchased 38,500 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was purchased at an average cost of $6.98 per share, with a total value of $268,730.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald J. Listwin purchased 12,500 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was acquired at an average cost of $9.80 per share, with a total value of $122,500.00. The disclosure for this purchase can be found here. Insiders have purchased 54,300 shares of company stock worth $413,880 over the last 90 days. Insiders own 18.28% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Global X Management Co LLC boosted its holdings in Calix by 18.9% in the second quarter. Global X Management Co LLC now owns 56,807 shares of the communications equipment provider’s stock valued at $443,000 after purchasing an additional 9,049 shares in the last quarter. Northern Trust Corp boosted its holdings in Calix by 2.0% in the first quarter. Northern Trust Corp now owns 486,780 shares of the communications equipment provider’s stock valued at $3,335,000 after purchasing an additional 9,771 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in Calix by 221.7% in the second quarter. MetLife Investment Advisors LLC now owns 21,486 shares of the communications equipment provider’s stock valued at $168,000 after purchasing an additional 14,808 shares in the last quarter. Centaurus Financial Inc. acquired a new position in Calix in the second quarter valued at approximately $156,000. Finally, GSA Capital Partners LLP boosted its holdings in Calix by 58.9% in the second quarter. GSA Capital Partners LLP now owns 111,729 shares of the communications equipment provider’s stock valued at $871,000 after purchasing an additional 41,400 shares in the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Calix (NYSE:CALX)

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