Calix (CALX) closed the most recent trading day at $20.85, moving +0.77% from the previous trading session. This change outpaced the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the maker of telecommunications equipment had gained 9.53% over the past month, outpacing the Computer and Technology sector's gain of 6.24% and the S&P 500's gain of 3.19% in that time.
Investors will be hoping for strength from CALX as it approaches its next earnings release, which is expected to be October 20, 2020. On that day, CALX is projected to report earnings of $0.20 per share, which would represent year-over-year growth of 233.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $129.15 million, up 12.8% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.52 per share and revenue of $483.95 million. These totals would mark changes of +766.67% and +14.05%, respectively, from last year.
Investors might also notice 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. 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.
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 holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CALX has a Forward P/E ratio of 40.04 right now. Its industry sports an average Forward P/E of 82.68, 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 209, which puts it in the bottom 18% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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