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Calix (CALX) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2 mins read

Calix (CALX) closed at $19.79 in the latest trading session, marking a -0.6% move from the prior day. This change lagged the S&P 500's 0.8% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.5%.

CALX will be looking to display strength as it nears its next earnings release, which is expected to be October 20, 2020. The company is expected to report EPS of $0.20, up 233.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $129.15 million, up 12.8% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.52 per share and revenue of $483.95 million, which would represent changes of +766.67% and +14.05%, respectively, from the prior year.

Any recent changes to analyst estimates for CALX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CALX is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, CALX is holding a Forward P/E ratio of 38.53. This represents a discount compared to its industry's average Forward P/E of 82.84.

The Communication - Infrastructure industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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