Clearfield (NASDAQ:CLFD) Issues Earnings Results

Clearfield (NASDAQ:CLFD) issued its earnings results on Thursday. The communications equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13, Briefing.com reports. The business had revenue of $46.80 million for the quarter, compared to analyst estimates of $41.95 million. Clearfield had a negative net margin of 5.26% and a negative return on equity of 3.06%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share.

Clearfield Stock Performance

Shares of CLFD stock traded down $2.11 on Friday, hitting $34.69. The company had a trading volume of 298,132 shares, compared to its average volume of 155,701. Clearfield has a twelve month low of $23.45 and a twelve month high of $44.83. The company has a quick ratio of 5.73, a current ratio of 8.38 and a debt-to-equity ratio of 0.01. The firm has a market cap of $493.99 million, a P/E ratio of -54.85 and a beta of 1.35. The company has a 50-day moving average price of $37.55 and a 200-day moving average price of $37.61.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com raised Clearfield from a “sell” rating to a “hold” rating in a research report on Thursday. 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, August 2nd. Roth Mkm dropped their target price on Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Lake Street Capital raised shares of Clearfield from a “hold” rating to a “buy” rating and raised their price target for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Clearfield in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

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.