Clarivate (CLVT) Scheduled to Post Quarterly Earnings on Wednesday

Clarivate (NYSE:CLVT) will announce its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Clarivate has set its FY 2024 guidance at 0.700-0.800 EPS and its FY24 guidance at $0.70 to $0.80 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Clarivate (NYSE:CLVT) last issued its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $683.70 million for the quarter, compared to the consensus estimate of $687.80 million. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. On average, analysts expect Clarivate to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Clarivate Trading Down 4.7 %

NYSE CLVT opened at $6.76 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $7.38 and a 200 day moving average price of $7.88. Clarivate has a 52-week low of $6.07 and a 52-week high of $10.03. The stock has a market capitalization of $4.51 billion, a P/E ratio of -4.56, a P/E/G ratio of 1.46 and a beta of 1.24.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CLVT shares. Barclays dropped their target price on Clarivate from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley dropped their target price on Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada dropped their target price on Clarivate from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Finally, Oppenheimer dropped their target price on Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.00.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.