Brokerages Expect Clearfield Inc (NASDAQ:CLFD) to Announce $0.05 Earnings Per Share

Shares of Clearfield Inc (NASDAQ:CLFD) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus price target of $18.00 for the company and are predicting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 54 out of 255 based on the ratings given to related companies.

Separately, Roth Capital began coverage on Clearfield in a research note on Wednesday, August 21st. They issued a “buy” rating and a $19.00 price target for the company.

In related news, Chairman Ronald G. Roth purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $12.42 per share, for a total transaction of $62,100.00. Following the completion of the purchase, the chairman now owns 1,233,699 shares in the company, valued at approximately $15,322,541.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Clearfield by 13.0% during the second quarter. Vanguard Group Inc. now owns 566,494 shares of the communications equipment provider’s stock worth $7,506,000 after purchasing an additional 65,274 shares during the last quarter. Evercore Wealth Management LLC lifted its stake in shares of Clearfield by 137.6% in the 2nd quarter. Evercore Wealth Management LLC now owns 48,800 shares of the communications equipment provider’s stock valued at $647,000 after acquiring an additional 28,260 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Clearfield by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 546,299 shares of the communications equipment provider’s stock valued at $7,238,000 after acquiring an additional 11,300 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Clearfield by 58.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 28,214 shares of the communications equipment provider’s stock valued at $374,000 after acquiring an additional 10,454 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Clearfield by 6.3% in the 2nd quarter. Royal Bank of Canada now owns 148,077 shares of the communications equipment provider’s stock valued at $1,962,000 after acquiring an additional 8,749 shares during the last quarter. Institutional investors and hedge funds own 29.20% of the company’s stock.

Shares of CLFD stock traded up $0.19 during trading on Friday, hitting $14.83. The company had a trading volume of 15,228 shares, compared to its average volume of 23,986. The firm has a market capitalization of $197.40 million, a P/E ratio of 43.62 and a beta of 1.56. The stock’s 50-day moving average price is $12.97 and its 200 day moving average price is $12.59. Clearfield has a one year low of $8.41 and a one year high of $16.75.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $23.97 million during the quarter, compared to analysts’ expectations of $23.65 million. Clearfield had a return on equity of 6.30% and a net margin of 5.37%. On average, analysts predict that Clearfield will post 0.37 EPS for the current year.

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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