Calix (CALX - Free Report) closed at $18.68 in the latest trading session, marking a -1.58% move from the prior day. This change was narrower than the S&P 500's 1.76% loss on the day. Elsewhere, the Dow lost 1.45%, while the tech-heavy Nasdaq lost 1.99%.
Coming into today, shares of the maker of telecommunications equipment had lost 8.88% in the past month. In that same time, the Computer and Technology sector gained 1.8%, while the S&P 500 gained 1.56%.
Investors will be hoping for strength from CALX as it approaches its next earnings release. 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, our latest consensus estimate is calling for revenue of $129.15 million, up 12.8% from the prior-year quarter.
CALX's full-year Zacks Consensus Estimates are calling for earnings of $0.52 per share and revenue of $483.95 million. These results would represent year-over-year changes of +766.67% and +14.05%, respectively.
It is also important to note the recent changes to analyst estimates for CALX. Recent revisions tend to reflect the latest near-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. The Zacks Consensus EPS estimate remained stagnant within the past month. CALX is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, CALX is currently trading at a Forward P/E ratio of 36.74. Its industry sports an average Forward P/E of 77.33, 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 group has a Zacks Industry Rank of 128, putting it in the top 50% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.