Clarivate (NYSE:CLVT – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.700-0.800 for the period, compared to the consensus earnings per share estimate of 0.740. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.6 billion. Clarivate also updated its FY24 guidance to $0.70-0.80 EPS.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Royal Bank of Canada reduced their price objective on Clarivate from $10.00 to $8.00 and set a sector perform rating for the company in a report on Wednesday, February 28th. Morgan Stanley dropped their target price on shares of Clarivate from $9.00 to $8.00 and set an equal weight rating on the stock in a report on Wednesday, February 28th. Oppenheimer lowered their price target on Clarivate from $11.00 to $10.00 and set an outperform rating on the stock in a report on Wednesday, February 28th. Finally, Barclays cut their price objective on Clarivate from $7.00 to $6.00 and set an underweight rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Clarivate has an average rating of Hold and a consensus price target of $8.00.
Get Our Latest Analysis on CLVT
Clarivate Stock Performance
Clarivate (NYSE:CLVT – Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The firm had revenue of $683.70 million during the quarter, compared to analysts’ expectations of $687.80 million. During the same period in the prior year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Clarivate will post 0.62 earnings per share for the current fiscal year.
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.
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