Clearfield (NASDAQ:CLFD) Releases Q4 2024 Earnings Guidance

Clearfield (NASDAQ:CLFD) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -0.220–0.170 for the period, compared to the consensus earnings per share estimate of -0.250. The company issued revenue guidance of $40.0 million-$43.0 million, compared to the consensus revenue estimate of $43.1 million.

Clearfield Stock Performance

Shares of CLFD traded down $3.62 on Friday, hitting $39.02. 358,641 shares of the stock traded hands, compared to its average volume of 114,880. The company has a market capitalization of $555.25 million, a PE ratio of -156.08 and a beta of 1.39. Clearfield has a one year low of $22.91 and a one year high of $46.69. The business has a 50 day simple moving average of $39.26 and a 200 day simple moving average of $33.55.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, August 1st. The communications equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.30. The company had revenue of $48.79 million during the quarter, compared to the consensus estimate of $42.13 million. Clearfield had a negative return on equity of 3.00% 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 period last year, the company earned $0.33 EPS. On average, equities analysts expect that Clearfield will post -1.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

CLFD has been the subject of a number of recent research reports. Roth Mkm cut their price target on Clearfield from $47.00 to $45.00 and set a buy rating for the company in a research note on Friday. StockNews.com raised Clearfield to a sell rating in a report on Friday, June 21st. Lake Street Capital raised 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. Northland Securities raised their price objective on Clearfield from $40.00 to $45.00 and gave the stock an outperform rating in a research note on Friday. Finally, Needham & Company LLC reissued a buy rating and issued a $42.00 target price on shares of Clearfield in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Clearfield presently has an average rating of Moderate Buy and a consensus target price of $44.80.

Insiders Place Their Bets

In other news, Chairman Ronald G. Roth purchased 2,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $36.40 per share, for a total transaction of $72,800.00. Following the acquisition, the chairman now directly owns 1,261,796 shares of the company’s stock, valued at approximately $45,929,374.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is currently owned by corporate insiders.

About Clearfield

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.