Clearfield (CLFD) to Release Earnings on Thursday

Clearfield (NASDAQ:CLFD) is set to post its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Clearfield to post earnings of ($0.53) per share for the quarter. Clearfield has set its Q2 guidance at ($0.55)-($0.49) EPS and its Q2 2024 guidance at -0.550–0.490 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. The company had revenue of $34.20 million for the quarter, compared to analyst estimates of $29.88 million. Clearfield had a net margin of 6.00% and a return on equity of 4.22%. The firm’s revenue was down 60.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 earnings per share. On average, analysts expect Clearfield to post $-1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Clearfield Trading Up 0.6 %

Shares of NASDAQ:CLFD opened at $29.60 on Thursday. The firm has a 50 day simple moving average of $29.79 and a 200-day simple moving average of $27.93. Clearfield has a twelve month low of $22.91 and a twelve month high of $50.82. The company has a market capitalization of $435.33 million, a PE ratio of 36.10 and a beta of 1.32.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CLFD shares. Roth Mkm reduced their price target on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Clearfield in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Clearfield has a consensus rating of “Hold” and an average price target of $42.20.

Insider Buying and Selling

In other Clearfield news, Chairman Ronald G. Roth acquired 2,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $29.62 per share, for a total transaction of $59,240.00. Following the completion of the purchase, the chairman now owns 1,259,796 shares in the company, valued at approximately $37,315,157.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.00% of the stock is owned by company insiders.

Clearfield Company Profile

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.