Clearfield (NASDAQ:CLFD) Releases Q4 2024 Earnings Guidance

Clearfield (NASDAQ:CLFD) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.220–0.170 for the period, compared to the consensus estimate of -0.250. The company issued revenue guidance of $40.0 million-$43.0 million, compared to the consensus revenue estimate of $43.1 million.

Clearfield Price Performance

CLFD stock traded down $3.62 on Friday, reaching $39.02. The company’s stock had a trading volume of 358,641 shares, compared to its average volume of 114,880. Clearfield has a 52 week low of $22.91 and a 52 week high of $46.69. The company has a market capitalization of $555.25 million, a P/E ratio of -156.08 and a beta of 1.39. The firm has a fifty day moving average of $39.26 and a two-hundred day moving average of $33.55.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings results on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.30. Clearfield had a negative return on equity of 3.00% and a negative net margin of 5.26%. The company had revenue of $48.79 million for the quarter, compared to analysts’ expectations of $42.13 million. During the same period last year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was down 20.4% on a year-over-year basis. As a group, equities analysts expect that Clearfield will post -1.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Clearfield to a sell rating in a research report on Friday, June 21st. Lake Street Capital raised Clearfield from a hold rating to a buy rating and upped their price target for the company from $31.00 to $47.00 in a report on Friday. Roth Mkm cut their price objective on Clearfield from $47.00 to $45.00 and set a buy rating for the company in a research report on Friday. Northland Securities lifted their target price on Clearfield from $40.00 to $45.00 and gave the stock an outperform rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a buy rating and set a $42.00 target price on shares of Clearfield in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, Clearfield currently has a consensus rating of Moderate Buy and an average target price of $44.80.

Insider Activity

In other Clearfield news, Chairman Ronald G. Roth acquired 2,000 shares of Clearfield stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $36.40 per share, with a total value of $72,800.00. Following the purchase, the chairman now owns 1,261,796 shares in the company, valued at $45,929,374.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.00% of the stock is currently 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.