Clearfield (NASDAQ:CLFD) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Clearfield (NASDAQ:CLFD) announced its earnings results on Thursday. The communications equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.13, Zacks reports. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%.

Clearfield Price Performance

Shares of CLFD traded down $0.13 during mid-day trading on Thursday, reaching $36.94. The stock had a trading volume of 160,918 shares, compared to its average volume of 123,339. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.69 and a current ratio of 9.43. The business has a fifty day moving average of $33.93 and a 200 day moving average of $35.93. Clearfield has a 12 month low of $27.06 and a 12 month high of $44.83. The firm has a market cap of $521.85 million, a price-to-earnings ratio of -43.46 and a beta of 1.28.

Insider Buying and Selling

In related news, Chairman Ronald G. Roth bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average price of $31.00 per share, for a total transaction of $155,000.00. Following the completion of the transaction, the chairman now owns 1,266,796 shares in the company, valued at $39,270,676. The trade was a 0.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Clearfield in a research report on Thursday, January 16th. StockNews.com lowered shares of Clearfield from a “hold” rating to a “sell” rating in a research report on Saturday, January 11th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.