$23.65 Million in Sales Expected for Clearfield Inc (NASDAQ:CLFD) This Quarter

Equities analysts expect Clearfield Inc (NASDAQ:CLFD) to report sales of $23.65 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Clearfield’s earnings. The highest sales estimate is $23.90 million and the lowest is $23.40 million. Clearfield posted sales of $22.47 million in the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Clearfield will report full-year sales of $84.99 million for the current year, with estimates ranging from $84.47 million to $85.50 million. For the next fiscal year, analysts forecast that the firm will post sales of $95.27 million, with estimates ranging from $93.53 million to $97.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Clearfield.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, July 25th. The communications equipment provider reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $21.89 million for the quarter, compared to analyst estimates of $22.50 million. Clearfield had a return on equity of 6.43% and a net margin of 5.46%.

Several analysts recently weighed in on the company. Northland Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Clearfield in a research note on Friday, July 26th. Roth Capital assumed coverage on Clearfield in a research note on Wednesday, August 21st. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, Zacks Investment Research raised Clearfield from a “sell” rating to a “hold” rating in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.33.

NASDAQ:CLFD traded up $0.19 during trading hours on Friday, hitting $11.79. The company’s stock had a trading volume of 13,323 shares, compared to its average volume of 25,714. The stock has a fifty day simple moving average of $11.49 and a 200-day simple moving average of $13.28. The company has a market capitalization of $157.54 million, a P/E ratio of 36.84 and a beta of 1.53. Clearfield has a twelve month low of $8.41 and a twelve month high of $16.75.

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its position in Clearfield by 1,718.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,382 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 2,251 shares during the last quarter. Northern Trust Corp raised its position in Clearfield by 2.0% in the second quarter. Northern Trust Corp now owns 147,652 shares of the communications equipment provider’s stock valued at $1,956,000 after purchasing an additional 2,961 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Clearfield by 82.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,237 shares of the communications equipment provider’s stock valued at $239,000 after purchasing an additional 7,320 shares during the last quarter. Royal Bank of Canada raised its position in Clearfield by 6.3% in the second quarter. Royal Bank of Canada now owns 148,077 shares of the communications equipment provider’s stock valued at $1,962,000 after purchasing an additional 8,749 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Clearfield by 58.9% in the second quarter. Panagora Asset Management Inc. now owns 28,214 shares of the communications equipment provider’s stock valued at $374,000 after purchasing an additional 10,454 shares during the last quarter. Hedge funds and other institutional investors own 29.68% of the company’s stock.

About Clearfield

Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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