UBS Sees A Lot of Leverage in the Calix (CALX) Model; Maintains 'Buy', Cuts Outlook
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Price: $9.64 +0.84%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CALX Now!
UBS maintains a 'Buy' on Calix (NYSE: CALX) price target of $7.00 (from $8.00).
Analyst, Amitabh Passi, said, "CALX reported F2Q12 rev/EPS of $79m/$0.04, in-line with the company’s recent preannouncement, down 19% y/y and flat q/q...Q3 guidance is for revenues to be flat q/q with GM ~100bps lower to 44%, given a higher proportion of services, and non-GAAP EPS of $0.01-0.02 (cons. $86m/$0.06). Given the macro backdrop and qualification delays at Qwest (now expected for Nov.) guidance appears prudent. Key catalysts we will be looking for include a) capital spending outlook from Tier 1/2 operators heading into 4Q b) qual. progress at Qwest and potential revenue opportunity exiting 2012 into 2013. c) regulatory clarity for Tier 3’s and d) international expansion progress."
FY12 EPS estimate cut from $0.32 to $0.12 and FY13 form $0.60 to $0.45.
For an analyst ratings summary and ratings history on Calix click here. For more ratings news on Calix click here.
Shares of Calix closed at $4.61 yesterday, with a 52 week range of $4.55-$18.80.
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Analyst, Amitabh Passi, said, "CALX reported F2Q12 rev/EPS of $79m/$0.04, in-line with the company’s recent preannouncement, down 19% y/y and flat q/q...Q3 guidance is for revenues to be flat q/q with GM ~100bps lower to 44%, given a higher proportion of services, and non-GAAP EPS of $0.01-0.02 (cons. $86m/$0.06). Given the macro backdrop and qualification delays at Qwest (now expected for Nov.) guidance appears prudent. Key catalysts we will be looking for include a) capital spending outlook from Tier 1/2 operators heading into 4Q b) qual. progress at Qwest and potential revenue opportunity exiting 2012 into 2013. c) regulatory clarity for Tier 3’s and d) international expansion progress."
FY12 EPS estimate cut from $0.32 to $0.12 and FY13 form $0.60 to $0.45.
For an analyst ratings summary and ratings history on Calix click here. For more ratings news on Calix click here.
Shares of Calix closed at $4.61 yesterday, with a 52 week range of $4.55-$18.80.
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