Clearfield (NASDAQ:CLFD) Announces Earnings Results

Clearfield (NASDAQ:CLFD) announced its quarterly earnings data on Thursday. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13, Briefing.com reports. Clearfield had a negative return on equity of 3.06% and a negative net margin of 5.26%. The business had revenue of $46.80 million for the quarter, compared to the consensus estimate of $41.95 million. During the same period in the previous year, the business earned $0.17 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis.

Clearfield Trading Down 5.7 %

NASDAQ CLFD traded down $2.11 on Friday, hitting $34.69. 298,132 shares of the stock were exchanged, compared to its average volume of 155,701. Clearfield has a 52-week low of $23.45 and a 52-week high of $44.83. The firm has a market capitalization of $493.99 million, a P/E ratio of -54.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.73 and a current ratio of 8.38. The stock has a fifty day moving average price of $37.55 and a two-hundred day moving average price of $37.61.

Analysts Set New Price Targets

Several research firms recently weighed in on CLFD. Northland Securities raised their target price on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Clearfield from a “sell” rating to a “hold” rating in a report on Thursday. Lake Street Capital raised shares of Clearfield from a “hold” rating to a “buy” rating and upped their price target for the company from $31.00 to $47.00 in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Clearfield in a research report on Tuesday, September 24th. Finally, Roth Mkm reduced their target price on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

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.