Clearfield (CLFD) to Release Quarterly Earnings on Thursday

Clearfield (NASDAQ:CLFD) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.30. The company had revenue of $48.79 million during the quarter, compared to analyst estimates of $42.13 million. Clearfield had a negative return on equity of 3.06% and a negative net margin of 5.26%. Clearfield’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. On average, analysts expect Clearfield to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Clearfield Price Performance

CLFD opened at $36.12 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.38 and a quick ratio of 5.73. The stock’s 50 day simple moving average is $37.65 and its 200 day simple moving average is $37.36. The firm has a market cap of $514.10 million, a price-to-earnings ratio of -144.48 and a beta of 1.34. Clearfield has a 1 year low of $22.91 and a 1 year high of $44.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Northland Securities upped their price target on shares of Clearfield from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Clearfield in a report on Tuesday, September 24th. Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and boosted their price target for the company from $31.00 to $47.00 in a report on Friday, August 2nd. StockNews.com cut Clearfield from a “hold” rating to a “sell” rating in a report on Wednesday, October 23rd. Finally, Roth Mkm decreased their target price on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Insider Transactions at Clearfield

In other news, Director Walter Louis Jones, Jr. purchased 1,324 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $37.77 per share, for a total transaction of $50,007.48. Following the completion of the transaction, the director now directly owns 6,061 shares of the company’s stock, valued at $228,923.97. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.00% of the company’s stock.

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.