Clarus Co. Expected to Earn FY2023 Earnings of $0.92 Per Share (NASDAQ:CLAR)

Clarus Co. (NASDAQ:CLAR – Get Rating) – Research analysts at William Blair decreased their FY2023 earnings per share estimates for shares of Clarus in a report issued on Tuesday, February 28th. William Blair analyst R. Sundby now forecasts that the company will post earnings per share of $0.92 for the year, down from their previous forecast of $1.10. The consensus estimate for Clarus’ current full-year earnings is $1.13 per share.

Several other equities research analysts have also issued reports on CLAR. DA Davidson lowered Clarus from a “buy” rating to a “neutral” rating and decreased their target price for the company from $31.00 to $9.00 in a research report on Tuesday, November 8th. StockNews.com raised Clarus to a “sell” rating in a report on Friday, February 3rd. Roth Capital decreased their price objective on Clarus from $28.00 to $16.00 in a report on Monday, November 7th. Finally, Lake Street Capital decreased their price objective on Clarus from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Clarus Trading Up 3.7 %

Shares of Clarus stock opened at $9.89 on Friday. Clarus has a 1 year low of $6.86 and a 1 year high of $29.32. The firm has a market cap of $366.62 million, a PE ratio of -5.18, a P/E/G ratio of 1.35 and a beta of 0.95. The stock has a fifty day moving average price of $9.31 and a 200-day moving average price of $11.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.69 and a quick ratio of 1.67.

Clarus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Tuesday, March 7th will be given a dividend of $0.025 per share. The ex-dividend date is Monday, March 6th. This represents a $0.10 annualized dividend and a dividend yield of 1.01%. Clarus’s dividend payout ratio is presently -5.24%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ensign Peak Advisors Inc acquired a new stake in shares of Clarus in the 3rd quarter worth $32,000. Lazard Asset Management LLC boosted its holdings in shares of Clarus by 784.6% during the 2nd quarter. Lazard Asset Management LLC now owns 4,308 shares of the company’s stock worth $81,000 after purchasing an additional 3,821 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of Clarus during the 4th quarter worth approximately $90,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Clarus by 112.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,296 shares of the company’s stock valued at $98,000 after acquiring an additional 3,855 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its holdings in Clarus by 21.1% in the first quarter. Advisor Group Holdings Inc. now owns 4,920 shares of the company’s stock valued at $112,000 after acquiring an additional 857 shares during the last quarter. 90.53% of the stock is owned by institutional investors.

About Clarus

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Clarus Corp engages in development, manufacture, and distribution of outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport categories. It operates through the following segments: Outdoor, Precision Sport, and Adventure. The Outdoor segment manufactures outdoor engineered equipment and apparel for climbing, mountaineering, trail running, backpacking, skiing, and a wide range of other year-round outdoor recreation activities.