Equities research analysts forecast that Clearfield Inc (NASDAQ:CLFD) will announce $0.05 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Clearfield’s earnings, with estimates ranging from $0.04 to $0.06. Clearfield reported earnings of $0.08 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 37.5%. The company is expected to report its next earnings results after the market closes on Thursday, January 23rd.
According to Zacks, analysts expect that Clearfield will report full-year earnings of $0.37 per share for the current year, with EPS estimates ranging from $0.34 to $0.40. For the next year, analysts anticipate that the firm will report earnings of $0.45 per share. Zacks’ EPS averages are an average based on a survey of analysts that follow Clearfield.
Clearfield (NASDAQ:CLFD) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. The firm 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%.
Separately, ValuEngine lowered Clearfield from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.33.
Shares of NASDAQ:CLFD traded down $0.08 during midday trading on Friday, hitting $14.14. The company had a trading volume of 14,101 shares, compared to its average volume of 12,477. The firm has a fifty day simple moving average of $14.09 and a 200 day simple moving average of $12.71. The stock has a market cap of $194.21 million, a price-to-earnings ratio of 41.59 and a beta of 1.55. Clearfield has a 12 month low of $10.05 and a 12 month high of $16.75.
In other news, Chairman Ronald G. Roth acquired 5,000 shares of Clearfield stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $12.42 per share, for a total transaction of $62,100.00. Following the completion of the acquisition, the chairman now directly owns 1,233,699 shares in the company, valued at approximately $15,322,541.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 18.70% of the stock is owned by insiders.
Several large investors have recently modified their holdings of CLFD. Northern Trust Corp increased its holdings in shares of Clearfield by 2.0% during the second quarter. Northern Trust Corp now owns 147,652 shares of the communications equipment provider’s stock worth $1,956,000 after buying an additional 2,961 shares in the last quarter. California Public Employees Retirement System increased its holdings in Clearfield by 5.8% in the third quarter. California Public Employees Retirement System now owns 62,400 shares of the communications equipment provider’s stock valued at $739,000 after purchasing an additional 3,400 shares during the period. Royal Bank of Canada increased its holdings 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 period. Renaissance Technologies LLC increased its holdings in Clearfield by 2.1% in the second quarter. Renaissance Technologies LLC now owns 546,299 shares of the communications equipment provider’s stock valued at $7,238,000 after purchasing an additional 11,300 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in Clearfield in the fourth quarter valued at $572,000. Institutional investors own 29.20% of the company’s stock.
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.
Recommended Story: Different Types of Derivatives
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Clearfield Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearfield and related companies with MarketBeat.com's FREE daily email newsletter.