Clarivate Plc (NYSE:CLVT) Given Average Rating of “Hold” by Analysts

Clarivate Plc (NYSE:CLVT) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $7.78.

Separately, The Goldman Sachs Group lowered their target price on shares of Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a report on Thursday, May 9th.

Hedge Funds Weigh In On Clarivate

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Clarivate by 2.2% during the third quarter. Vanguard Group Inc. now owns 7,986,939 shares of the company’s stock worth $53,592,000 after acquiring an additional 171,326 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Clarivate by 13.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,032 shares of the company’s stock worth $213,000 after acquiring an additional 2,743 shares during the period. Cerity Partners LLC bought a new position in Clarivate during the fourth quarter worth about $956,000. Handelsbanken Fonder AB increased its position in Clarivate by 103.8% during the fourth quarter. Handelsbanken Fonder AB now owns 127,600 shares of the company’s stock worth $1,182,000 after acquiring an additional 65,000 shares during the period. Finally, California Public Employees Retirement System increased its position in Clarivate by 12.5% during the fourth quarter. California Public Employees Retirement System now owns 780,468 shares of the company’s stock worth $7,227,000 after acquiring an additional 86,795 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Stock Down 1.1 %

Shares of NYSE:CLVT opened at $6.41 on Friday. Clarivate has a one year low of $5.19 and a one year high of $9.60. The company has a 50 day moving average of $5.90 and a 200-day moving average of $7.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -3.86, a P/E/G ratio of 4.55 and a beta of 1.15.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. The company had revenue of $621.20 million during the quarter, compared to analysts’ expectations of $614.57 million. On average, sell-side analysts forecast that Clarivate will post 0.62 earnings per share for the current year.

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.