Zacks: Analysts Expect Clearfield Inc (NASDAQ:CLFD) to Post $0.05 Earnings Per Share

Equities analysts forecast that Clearfield Inc (NASDAQ:CLFD) will post $0.05 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Clearfield’s earnings. Clearfield reported earnings per share of $0.02 during the same quarter last year, which would indicate a positive year over year growth rate of 150%. The company is scheduled to announce its next earnings report on Thursday, April 23rd.

According to Zacks, analysts expect that Clearfield will report full-year earnings of $0.36 per share for the current fiscal year, with EPS estimates ranging from $0.34 to $0.37. For the next fiscal year, analysts forecast that the company will post earnings of $0.45 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Clearfield.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, January 23rd. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The business had revenue of $19.38 million for the quarter, compared to analysts’ expectations of $21.11 million. Clearfield had a return on equity of 5.55% and a net margin of 4.81%.

Separately, ValuEngine lowered shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.33.

NASDAQ:CLFD traded up $0.05 on Friday, reaching $14.26. 16,928 shares of the company’s stock were exchanged, compared to its average volume of 11,726. The firm has a market capitalization of $194.79 million, a price-to-earnings ratio of 47.53 and a beta of 1.55. The business has a fifty day moving average of $14.14 and a 200-day moving average of $12.74. Clearfield has a 52-week low of $10.05 and a 52-week high of $16.75.

In other Clearfield news, Chairman Ronald G. Roth purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $12.42 per share, for a total transaction of $62,100.00. Following the completion of the purchase, the chairman now directly owns 1,233,699 shares of the company’s stock, valued at $15,322,541.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.93% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in CLFD. Strs Ohio acquired a new stake in shares of Clearfield in the fourth quarter valued at approximately $217,000. Wedge Capital Management L L P NC acquired a new stake in shares of Clearfield in the fourth quarter valued at approximately $572,000. California Public Employees Retirement System boosted its holdings in shares of Clearfield by 5.8% in the third quarter. California Public Employees Retirement System now owns 62,400 shares of the communications equipment provider’s stock valued at $739,000 after acquiring an additional 3,400 shares during the period. Northern Trust Corp boosted its holdings in shares of Clearfield by 2.0% in the second quarter. Northern Trust Corp now owns 147,652 shares of the communications equipment provider’s stock valued at $1,956,000 after acquiring an additional 2,961 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Clearfield by 6.3% in the second quarter. Royal Bank of Canada now owns 148,077 shares of the communications equipment provider’s stock valued at $1,962,000 after acquiring an additional 8,749 shares during the period. Hedge funds and other institutional investors own 29.48% of the company’s stock.

Clearfield Company Profile

Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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