Clearfield (NASDAQ:CLFD) Releases Q4 2024 Earnings Guidance

Clearfield (NASDAQ:CLFD) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.220–0.170 for the period, compared to the consensus estimate of -0.250. The company issued revenue guidance of $40.0 million-$43.0 million, compared to the consensus revenue estimate of $43.1 million.

Analyst Ratings Changes

A number of brokerages have commented on CLFD. Northland Securities boosted their target price on Clearfield from $40.00 to $45.00 and gave the company an outperform rating in a research note on Friday. Lake Street Capital upgraded Clearfield from a hold rating to a buy rating and increased their price objective for the stock from $31.00 to $47.00 in a report on Friday. Needham & Company LLC reiterated a buy rating and issued a $42.00 target price on shares of Clearfield in a research note on Thursday, May 16th. Roth Mkm cut their price target on shares of Clearfield from $47.00 to $45.00 and set a buy rating on the stock in a report on Friday. Finally, StockNews.com upgraded shares of Clearfield to a sell rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $44.80.

Clearfield Stock Performance

Shares of Clearfield stock traded down $3.62 on Friday, reaching $39.02. The stock had a trading volume of 358,641 shares, compared to its average volume of 114,880. The business’s 50-day moving average price is $39.26 and its two-hundred day moving average price is $33.55. The stock has a market cap of $555.25 million, a P/E ratio of -156.08 and a beta of 1.39. Clearfield has a fifty-two week low of $22.91 and a fifty-two week high of $46.69.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.30. The business had revenue of $48.79 million during the quarter, compared to analysts’ expectations of $42.13 million. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.00%. The firm’s revenue was down 20.4% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. As a group, equities analysts forecast that Clearfield will post -1.26 earnings per share for the current fiscal year.

Insider Activity

In other Clearfield news, Chairman Ronald G. Roth bought 2,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $36.40 per share, with a total value of $72,800.00. Following the completion of the purchase, the chairman now directly owns 1,261,796 shares in the company, valued at approximately $45,929,374.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.00% of the company’s stock.

Clearfield Company Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.