$676.04 Million in Sales Expected for Clarivate Plc (NYSE:CLVT) This Quarter

Equities analysts expect that Clarivate Plc (NYSE:CLVT – Get Rating) will post $676.04 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Clarivate’s earnings. The highest sales estimate is $689.67 million and the lowest is $662.40 million. Clarivate posted sales of $428.43 million in the same quarter last year, which would indicate a positive year over year growth rate of 57.8%. The company is expected to issue its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Clarivate will report full-year sales of $2.83 billion for the current financial year, with estimates ranging from $2.80 billion to $2.87 billion. For the next year, analysts expect that the business will post sales of $2.99 billion, with estimates ranging from $2.96 billion to $3.07 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Clarivate.

Clarivate (NYSE:CLVT – Get Rating) last announced its earnings results on Thursday, March 10th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Clarivate had a positive return on equity of 4.62% and a negative net margin of 10.35%. The company had revenue of $560.70 million for the quarter, compared to the consensus estimate of $559.48 million. During the same period last year, the business posted $0.21 EPS. The company’s revenue was up 23.1% on a year-over-year basis.

Several equities analysts recently issued reports on CLVT shares. The Goldman Sachs Group reduced their price objective on Clarivate from $23.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, April 19th. TheStreet cut Clarivate from a “c-” rating to a “d+” rating in a report on Monday, March 14th. Barclays cut Clarivate from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $25.00 to $16.00 in a report on Thursday, February 3rd. Zacks Investment Research cut Clarivate from a “buy” rating to a “hold” rating in a report on Wednesday, March 16th. Finally, Morgan Stanley reduced their price objective on Clarivate from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, March 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $19.50.

In other news, insider James Gordon Samson sold 16,000 shares of Clarivate stock in a transaction on Monday, March 14th. The stock was sold at an average price of $14.13, for a total value of $226,080.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.88% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. National Bank of Canada FI purchased a new stake in Clarivate during the fourth quarter valued at about $30,157,000. Janney Montgomery Scott LLC boosted its position in shares of Clarivate by 10.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,061 shares of the company’s stock worth $2,518,000 after buying an additional 10,334 shares during the period. Brown Advisory Inc. acquired a new stake in shares of Clarivate in the fourth quarter valued at about $475,000. Royal Bank of Canada raised its holdings in shares of Clarivate by 23.1% during the 3rd quarter. Royal Bank of Canada now owns 605,933 shares of the company’s stock valued at $13,270,000 after buying an additional 113,894 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in Clarivate by 42.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 62,100 shares of the company’s stock worth $1,461,000 after acquiring an additional 18,384 shares in the last quarter. 90.87% of the stock is owned by hedge funds and other institutional investors.

Clarivate stock opened at $15.65 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.86 and a quick ratio of 0.86. Clarivate has a 1-year low of $11.71 and a 1-year high of $34.79. The company has a market cap of $10.70 billion, a PE ratio of -42.30 and a beta of 0.84. The stock’s 50 day moving average price is $15.66 and its 200 day moving average price is $19.23.

Clarivate Company Profile (Get Rating)

Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

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