Clearfield (CLFD) Set to Announce 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 interested in registering for the company’s earnings conference call can do so using this link.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data 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. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The firm had revenue of $34.20 million during the quarter, compared to analyst estimates of $29.88 million. During the same quarter in the prior year, the business posted $1.00 EPS. The business’s revenue for the quarter was down 60.2% compared to the same quarter last year. On average, analysts expect Clearfield to post $-1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Clearfield Stock Performance

CLFD stock traded down $0.28 on Tuesday, hitting $29.62. 15,513 shares of the company’s stock were exchanged, compared to its average volume of 197,944. The firm has a 50 day moving average price of $29.73 and a two-hundred day moving average price of $28.01. Clearfield has a 12-month low of $22.91 and a 12-month high of $50.82. The stock has a market cap of $435.71 million, a P/E ratio of 36.46 and a beta of 1.32.

Insiders Place Their Bets

In other Clearfield news, Chairman Ronald G. Roth bought 2,000 shares of Clearfield stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $29.62 per share, with a total value of $59,240.00. Following the completion of the acquisition, the chairman now directly owns 1,259,796 shares in the company, valued at approximately $37,315,157.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

CLFD has been the subject of a number of recent analyst reports. Roth Mkm lowered their target price on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Clearfield in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Clearfield currently has an average rating of “Hold” and an average target price of $42.20.

About Clearfield

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.