Clarivate Plc (NYSE:CLVT) Given Average Recommendation of “Hold” by Brokerages

Shares of Clarivate Plc (NYSE:CLVT) have been assigned a consensus rating of “Hold” from the nine research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $8.00.

Several research firms have issued reports on CLVT. Royal Bank of Canada reduced their price objective on Clarivate from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Barclays decreased their price target on Clarivate from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, February 28th. Oppenheimer lowered their price objective on Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, Morgan Stanley cut their target price on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th.

Clarivate Stock Performance

CLVT opened at $7.15 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock’s 50 day simple moving average is $7.57 and its 200-day simple moving average is $7.86. Clarivate has a 1 year low of $6.07 and a 1 year high of $10.03. The stock has a market cap of $4.78 billion, a PE ratio of -4.83, a P/E/G ratio of 1.44 and a beta of 1.24.

Clarivate (NYSE:CLVT) last announced its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business had revenue of $683.70 million during the quarter, compared to analysts’ expectations of $687.80 million. During the same quarter last year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Clarivate will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLVT. Exor N.V. lifted its holdings in Clarivate by 2.4% during the first quarter. Exor N.V. now owns 67,294,884 shares of the company’s stock worth $500,001,000 after acquiring an additional 1,566,519 shares in the last quarter. Clarkston Capital Partners LLC lifted its holdings in shares of Clarivate by 12.0% during the 3rd quarter. Clarkston Capital Partners LLC now owns 57,567,115 shares of the company’s stock valued at $386,275,000 after purchasing an additional 6,172,694 shares in the last quarter. Impactive Capital LP grew its position in shares of Clarivate by 15.7% in the 3rd quarter. Impactive Capital LP now owns 33,108,919 shares of the company’s stock valued at $222,161,000 after purchasing an additional 4,500,000 shares during the period. Baupost Group LLC MA grew its position in shares of Clarivate by 13.3% in the 4th quarter. Baupost Group LLC MA now owns 25,500,000 shares of the company’s stock valued at $236,130,000 after purchasing an additional 3,000,000 shares during the period. Finally, Glenview Capital Management LLC increased its stake in Clarivate by 22.2% during the 4th quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock worth $228,269,000 after purchasing an additional 4,472,302 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

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.