Clarivate PLC (CLVT) – What Are Investment Firms Saying About This Stock?

Shares of Clarivate PLC (NYSE:CLVT) have received a consensus recommendation of “Reduce” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $2.65.

CLVT has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $2.25 price target on shares of Clarivate in a report on Thursday, November 5th. Citigroup reduced their price objective on Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Morgan Stanley started coverage on Clarivate in a research report on Friday, October 30th. They set an “underweight” rating and a $1.50 target price for the company. The Goldman Sachs Group lowered their target price on Clarivate from $2.60 to $2.30 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Finally, William Blair downgraded shares of Clarivate to a “market perform” rating in a report on Thursday, October 15th.

Hedge Funds Weigh In On Clarivate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLVT. KBC Group NV bought a new stake in Clarivate during the 1st quarter valued at $4,118,000. Empowered Funds LLC grew its position in Clarivate by 418.6% in the first quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock worth $5,100,000 after acquiring an additional 1,627,159 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Clarivate during the 1st quarter valued at about $3,342,000. Amundi raised its stake in shares of Clarivate by 1,670.2% during the first quarter. Amundi now owns 558,992 shares of the company’s stock worth $1,414,000 after acquiring an additional 527,414 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Clarivate by 10.3% in the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock worth $13,972,000 after purchasing an additional 516,418 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Performance

Shares of CLVT stock opened at $2.33 on Friday. The firm has a 50-day moving average of $1.84 and a 200-day moving average of $2.20. The company has a market cap of $1.49 billion, a P/E ratio of -3.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.88 and a quick ratio of 0.88. Clarivate has a one year low of $1.42 and a one year high of $3.87.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Clarivate had a negative net margin of 17.02% and a positive return on equity of 9.84%. The company had revenue of $481.60 million for the quarter, compared to analyst estimates of $566.77 million. During the same period last year, the firm earned $0.18 earnings per share. The firm’s revenue was down 22.7% on a year-over-year basis. Equities research analysts forecast that Clarivate will post 0.67 EPS for the current fiscal year.

About Clarivate

Clarivate provides information, analytics and workflow tools to customers in academia and government, life sciences and healthcare, and intellectual property. Its services help organizations find and analyze research, assess scientific and commercial developments, and manage patents, trademarks and other intellectual property. Its products include Web of Science and ProQuest research resources, Cortellis life sciences intelligence, and intellectual property databases and services such as Derwent.