Calix (CALX) closed the most recent trading day at $18.94, moving +1.12% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 1.72%.
Prior to today's trading, shares of the maker of telecommunications equipment had lost 6.49% over the past month. This has lagged the Computer and Technology sector's loss of 4.28% and the S&P 500's loss of 3.29% in that time.
Wall Street will be looking for positivity from CALX as it approaches its next earnings report date. On that day, CALX is projected to report earnings of $0.20 per share, which would represent year-over-year growth of 233.33%. 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.
Investors might also notice recent changes to analyst estimates for CALX. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 is currently a Zacks Rank #3 (Hold).
Looking at its valuation, CALX is holding a Forward P/E ratio of 36.25. Its industry sports an average Forward P/E of 77.55, so we one might conclude that CALX is trading at a discount comparatively.
The Communication - Infrastructure industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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