Clearfield, Inc. to Post Q2 2024 Earnings of ($0.43) Per Share, Roth Capital Forecasts (NASDAQ:CLFD)

Clearfield, Inc. (NASDAQ:CLFDFree Report) – Equities researchers at Roth Capital decreased their Q2 2024 EPS estimates for shares of Clearfield in a research report issued to clients and investors on Monday, January 29th. Roth Capital analyst S. Searle now anticipates that the communications equipment provider will earn ($0.43) per share for the quarter, down from their prior estimate of ($0.30). The consensus estimate for Clearfield’s current full-year earnings is ($0.54) per share. Roth Capital also issued estimates for Clearfield’s Q3 2024 earnings at ($0.12) EPS and FY2024 earnings at ($0.78) EPS.

Clearfield (NASDAQ:CLFDGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.08. The business had revenue of $49.70 million during the quarter, compared to the consensus estimate of $48.76 million. Clearfield had a net margin of 12.11% and a return on equity of 10.61%. The business’s revenue was down 47.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Clearfield in a report on Thursday, January 18th. StockNews.com cut shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Finally, Roth Mkm lowered their price objective on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.83.

Get Our Latest Analysis on CLFD

Clearfield Stock Down 2.1 %

Shares of CLFD opened at $25.19 on Wednesday. The company has a 50-day simple moving average of $27.39 and a 200-day simple moving average of $31.10. The company has a market capitalization of $377.60 million, a PE ratio of 11.67 and a beta of 1.35. Clearfield has a 52-week low of $22.91 and a 52-week high of $72.74.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Clearfield by 54.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 690 shares of the communications equipment provider’s stock worth $72,000 after acquiring an additional 243 shares during the period. Credit Suisse AG lifted its holdings in shares of Clearfield by 3.2% during the 2nd quarter. Credit Suisse AG now owns 8,134 shares of the communications equipment provider’s stock worth $503,000 after acquiring an additional 256 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Clearfield by 6.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,959 shares of the communications equipment provider’s stock worth $307,000 after acquiring an additional 281 shares during the period. Northern Trust Corp lifted its holdings in shares of Clearfield by 0.3% during the 2nd quarter. Northern Trust Corp now owns 119,015 shares of the communications equipment provider’s stock worth $7,373,000 after acquiring an additional 349 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Clearfield by 6.6% in the first quarter. BNP Paribas Arbitrage SA now owns 5,786 shares of the communications equipment provider’s stock valued at $377,000 after buying an additional 359 shares during the period. 66.56% of the stock is currently owned by hedge funds and other institutional investors.

About Clearfield

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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.

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Earnings History and Estimates for Clearfield (NASDAQ:CLFD)

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