Clarivate (NYSE:CLVT) Posts Quarterly Earnings Results, Meets Expectations

Clarivate (NYSE:CLVT) posted its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19, Briefing.com reports. Clarivate had a positive return on equity of 9.99% and a negative net margin of 50.00%. The firm had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. During the same quarter last year, the firm earned $0.18 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis.

Clarivate Stock Down 2.4 %

NYSE CLVT traded down $0.11 on Friday, reaching $4.57. 7,631,017 shares of the company’s stock traded hands, compared to its average volume of 3,869,349. Clarivate has a fifty-two week low of $4.55 and a fifty-two week high of $9.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average price of $6.56 and a 200-day moving average price of $6.28.

Insiders Place Their Bets

In related news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now directly owns 976,583 shares of the company’s stock, valued at $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now directly owns 23,741 shares in the company, valued at $160,251.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the completion of the transaction, the insider now directly owns 976,583 shares of the company’s stock, valued at $6,836,081. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,646 shares of company stock valued at $1,379,111. Company insiders own 22.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays lowered their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Royal Bank of Canada cut their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.25.

Clarivate Company Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.