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

Zacks Equity Research
·2 min read

Calix (CALX) closed at $29.76 in the latest trading session, marking a -0.97% move from the prior day. This change lagged the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.14%.

Coming into today, shares of the maker of telecommunications equipment had gained 32.38% in the past month. In that same time, the Computer and Technology sector gained 4.51%, while the S&P 500 gained 3.19%.

Investors will be hoping for strength from CALX as it approaches its next earnings release. The company is expected to report EPS of $0.34, up 277.78% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $158.85 million, up 32.17% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.87 per share and revenue of $530.05 million. These totals would mark changes of +1350% and +24.91%, respectively, from last year.

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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 currently has a Zacks Rank of #3 (Hold).

In terms of valuation, CALX is currently trading at a Forward P/E ratio of 34.41. This valuation marks a discount compared to its industry's average Forward P/E of 70.19.

The Communication - Infrastructure industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 214, which puts it in the bottom 17% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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