Clarivate (NYSE:CLVT) Issues Quarterly Earnings Results, Hits Estimates

Clarivate (NYSE:CLVT) announced its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share for the quarter, meeting 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 company had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. During the same quarter last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis.

Clarivate Stock Performance

Shares of CLVT stock traded down $0.11 during trading on Friday, hitting $4.57. 7,631,017 shares of the stock traded hands, compared to its average volume of 3,869,349. Clarivate has a 52-week low of $4.55 and a 52-week high of $9.60. The firm’s fifty day moving average price is $6.56 and its 200-day moving average price is $6.28. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.

Insider Buying and Selling

In other news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the transaction, the insider now owns 916,583 shares in the company, valued at $6,416,081. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,646 shares of company stock worth $1,379,111. Company insiders own 22.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CLVT. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Barclays dropped their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada reduced their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.