Clarivate (NYSE:CLVT) Issues Quarterly Earnings Results

Clarivate (NYSE:CLVT) released its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 9.99% and a negative net margin of 50.00%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Clarivate Price Performance

Clarivate stock traded down $0.11 during mid-day trading on Friday, hitting $4.57. The company’s stock had a trading volume of 7,631,017 shares, compared to its average volume of 3,869,349. Clarivate has a one year low of $4.55 and a one year high of $9.60. The company has a 50 day moving average of $6.56 and a 200-day moving average of $6.28. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90.

Insider Transactions at Clarivate

In other Clarivate news, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total value of $420,000.00. Following the transaction, the insider now directly owns 916,583 shares in the company, valued at $6,416,081. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the transaction, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the sale, the insider now owns 916,583 shares of the company’s stock, 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 ninety days, insiders sold 197,646 shares of company stock worth $1,379,111. 22.77% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CLVT has been the subject of a number of recent research reports. Royal Bank of Canada dropped their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Barclays cut their target price on Clarivate from $5.00 to $4.00 and set an “underweight” 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.25.

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.