Clarivate (NYSE:CLVT) Posts Earnings Results, Meets Expectations

Clarivate (NYSE:CLVT) announced its quarterly earnings results on Wednesday. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19, Briefing.com reports. The business had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS.

Clarivate Price Performance

Shares of NYSE:CLVT traded down $0.11 during midday trading on Friday, hitting $4.57. The stock had a trading volume of 7,631,017 shares, compared to its average volume of 4,298,344. Clarivate has a fifty-two week low of $4.55 and a fifty-two week high of $9.60. The company has a market capitalization of $3.31 billion, a P/E ratio of -2.39 and a beta of 1.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $6.56 and its 200-day moving average price is $6.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CLVT shares. Barclays cut their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Royal Bank of Canada lowered their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Clarivate presently has a consensus rating of “Hold” and an average target price of $7.25.

Insiders Place Their Bets

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of the transaction, the insider now directly owns 916,583 shares in the company, valued at approximately $6,416,081. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,646 shares of company stock valued at $1,379,111. 23.14% of the stock is currently owned by corporate insiders.

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.