Wall Street analysts expect Clearfield Inc (NASDAQ:CLFD) to post sales of $21.11 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Clearfield’s earnings, with estimates ranging from $20.62 million to $21.60 million. Clearfield posted sales of $20.09 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The business is expected to report its next quarterly earnings results on Thursday, January 30th.
According to Zacks, analysts expect that Clearfield will report full year sales of $94.27 million for the current financial year, with estimates ranging from $93.53 million to $95.00 million. For the next year, analysts expect that the firm will report sales of $106.41 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Clearfield.
Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Clearfield had a net margin of 5.37% and a return on equity of 6.30%. The firm had revenue of $23.97 million during the quarter, compared to the consensus estimate of $23.65 million.
Separately, Roth Capital began coverage on shares of Clearfield in a report on Wednesday, August 21st. They issued a “buy” rating and a $19.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Clearfield has an average rating of “Buy” and a consensus price target of $16.33.
Shares of CLFD stock traded up $0.16 during mid-day trading on Friday, reaching $14.17. 11,974 shares of the company’s stock traded hands, compared to its average volume of 24,038. Clearfield has a 12 month low of $8.41 and a 12 month high of $16.75. The firm has a 50 day moving average price of $12.83 and a two-hundred day moving average price of $12.58. The firm has a market capitalization of $192.35 million, a PE ratio of 41.68 and a beta of 1.56.
In other news, Chairman Ronald G. Roth bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average price of $12.42 per share, with a total value of $62,100.00. Following the acquisition, the chairman now owns 1,233,699 shares of the company’s stock, valued at approximately $15,322,541.58. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 18.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of CLFD. Panagora Asset Management Inc. boosted its holdings in Clearfield by 58.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 28,214 shares of the communications equipment provider’s stock worth $374,000 after buying an additional 10,454 shares during the period. Renaissance Technologies LLC grew its stake 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 in the last quarter. Northern Trust Corp grew its stake in Clearfield by 2.0% in the second quarter. Northern Trust Corp now owns 147,652 shares of the communications equipment provider’s stock valued at $1,956,000 after purchasing an additional 2,961 shares in the last quarter. Evercore Wealth Management LLC grew its stake in Clearfield by 137.6% in the second quarter. Evercore Wealth Management LLC now owns 48,800 shares of the communications equipment provider’s stock valued at $647,000 after purchasing an additional 28,260 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Clearfield by 13.0% in the second quarter. Vanguard Group Inc. now owns 566,494 shares of the communications equipment provider’s stock valued at $7,506,000 after purchasing an additional 65,274 shares in the last quarter. 29.20% of the stock is owned by institutional investors.
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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