Calix (CALX) closed at $32.09 in the latest trading session, marking a +0.79% move from the prior day. This move outpaced the S&P 500's daily loss of 0.66%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 1.25%.
Heading into today, shares of the maker of telecommunications equipment had gained 27.92% over the past month, outpacing the Computer and Technology sector's gain of 3.38% and the S&P 500's gain of 3.42% in that time.
CALX will be looking to display strength as it nears its next earnings release, which is expected to be January 27, 2021. On that day, CALX is projected to report earnings of $0.34 per share, which would represent year-over-year growth of 277.78%. Our most recent consensus estimate is calling for quarterly revenue of $158.85 million, up 32.17% from the year-ago period.
Investors should also note any recent changes to analyst estimates for CALX. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CALX is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note CALX's current valuation metrics, including its Forward P/E ratio of 38.21. Its industry sports an average Forward P/E of 38.21, so we one might conclude that CALX is trading at a no noticeable deviation comparatively.
The Communication - Infrastructure industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CALX in the coming trading sessions, be sure to utilize Zacks.com.
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