Clearfield (NASDAQ:CLFD) Releases Earnings Results, Beats Expectations By $0.03 EPS

Clearfield (NASDAQ:CLFD) announced its earnings results on Thursday. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03, Fidelity Earnings reports. The company had revenue of $23.97 million for the quarter, compared to analyst estimates of $23.65 million. Clearfield had a return on equity of 6.43% and a net margin of 5.46%.

Shares of Clearfield stock traded up $0.13 on Friday, reaching $12.39. 17,600 shares of the company were exchanged, compared to its average volume of 24,135. The firm has a market capitalization of $168.33 million, a price-to-earnings ratio of 38.72 and a beta of 1.50. The stock has a fifty day moving average price of $12.13 and a 200-day moving average price of $12.80. Clearfield has a fifty-two week low of $8.41 and a fifty-two week high of $16.75.

CLFD has been the topic of a number of recent analyst reports. Roth Capital initiated coverage on Clearfield in a research report on Wednesday, August 21st. They set a “buy” rating and a $19.00 target price on the stock. Northland Securities reaffirmed a “buy” rating and set a $17.00 target price on shares of Clearfield in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.33.

Clearfield Company Profile

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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Earnings History for Clearfield (NASDAQ:CLFD)

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