Clearfield (NASDAQ:CLFD) Issues Earnings Results

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

Clearfield Trading Down 7.1 %

Shares of Clearfield stock opened at $34.20 on Friday. The stock has a fifty day simple moving average of $37.49 and a 200 day simple moving average of $37.65. Clearfield has a 12-month low of $23.45 and a 12-month high of $44.83. The company has a market capitalization of $487.01 million, a P/E ratio of -55.16 and a beta of 1.35. The company has a current ratio of 8.38, a quick ratio of 5.73 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Northland Securities lifted their target price on Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Clearfield in a report on Friday. Roth Mkm decreased their price objective on Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 2nd. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Lake Street Capital upgraded Clearfield from a “hold” rating to a “buy” rating and boosted their price objective for the company from $31.00 to $47.00 in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearfield 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.