Brokerages forecast that Clearfield Inc (NASDAQ:CLFD) will post $0.05 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Clearfield’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.06. Clearfield reported earnings of $0.08 per share in the same quarter last year, which would indicate a negative year over year growth rate of 37.5%. The company is expected to issue its next earnings results on Thursday, January 30th.
According to Zacks, analysts expect that Clearfield will report full-year earnings of $0.37 per share for the current year, with EPS estimates ranging from $0.34 to $0.40. For the next financial year, analysts expect that the firm will post earnings of $0.45 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Clearfield.
Clearfield (NASDAQ:CLFD) last released its earnings results on Thursday, November 7th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $23.97 million during the quarter, compared to the consensus estimate of $23.65 million. Clearfield had a return on equity of 6.30% and a net margin of 5.37%.
In related news, Chairman Ronald G. Roth acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $12.42 per share, with a total value of $62,100.00. Following the completion of the transaction, the chairman now owns 1,233,699 shares of the company’s stock, valued at $15,322,541.58. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 18.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CLFD. Panagora Asset Management Inc. grew its stake in Clearfield by 58.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 28,214 shares of the communications equipment provider’s stock worth $374,000 after purchasing an additional 10,454 shares in the last quarter. Evercore Wealth Management LLC raised its position in Clearfield by 137.6% in the 2nd quarter. Evercore Wealth Management LLC now owns 48,800 shares of the communications equipment provider’s stock valued at $647,000 after purchasing an additional 28,260 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Clearfield by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 62,400 shares of the communications equipment provider’s stock valued at $739,000 after buying an additional 3,400 shares during the period. Northern Trust Corp boosted its stake in shares of Clearfield by 2.0% in the 2nd quarter. Northern Trust Corp now owns 147,652 shares of the communications equipment provider’s stock valued at $1,956,000 after buying an additional 2,961 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Clearfield by 6.3% during the second quarter. Royal Bank of Canada now owns 148,077 shares of the communications equipment provider’s stock worth $1,962,000 after buying an additional 8,749 shares in the last quarter. Hedge funds and other institutional investors own 29.20% of the company’s stock.
NASDAQ CLFD opened at $14.10 on Thursday. The firm has a 50 day simple moving average of $12.66 and a 200-day simple moving average of $12.58. Clearfield has a one year low of $8.41 and a one year high of $16.75. The firm has a market cap of $187.17 million, a price-to-earnings ratio of 40.35 and a beta of 1.56.
Clearfield Company Profile
Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.
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