Q2 2024 Earnings Forecast for Clearfield, Inc. (NASDAQ:CLFD) Issued By Roth Capital

Clearfield, Inc. (NASDAQ:CLFDFree Report) – Stock analysts at Roth Capital cut their Q2 2024 earnings estimates for shares of Clearfield in a research note issued to investors on Monday, January 29th. Roth Capital analyst S. Searle now expects that the communications equipment provider will post earnings per share of ($0.43) 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 released its quarterly earnings results on Thursday, November 9th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.08. Clearfield had a net margin of 12.11% and a return on equity of 10.61%. The business had revenue of $49.70 million for the quarter, compared to analysts’ expectations of $48.76 million. During the same period last year, the business earned $1.22 EPS. The company’s revenue was down 47.7% compared to the same quarter last year.

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of Clearfield from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Clearfield in a report on Thursday, January 18th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.83.

Read Our Latest Stock Report on Clearfield

Clearfield Stock Performance

NASDAQ:CLFD opened at $25.19 on Wednesday. Clearfield has a fifty-two week low of $22.91 and a fifty-two week high of $72.74. The stock has a market capitalization of $377.60 million, a P/E ratio of 11.67 and a beta of 1.35. The company’s 50-day simple moving average is $27.39 and its 200-day simple moving average is $31.10.

Institutional Trading of Clearfield

A number of institutional investors have recently bought and sold shares of CLFD. Tower Research Capital LLC TRC lifted its stake in Clearfield by 54.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 690 shares of the communications equipment provider’s stock valued at $72,000 after acquiring an additional 243 shares during the period. Credit Suisse AG lifted its stake in Clearfield by 3.2% during the 2nd quarter. Credit Suisse AG now owns 8,134 shares of the communications equipment provider’s stock valued at $503,000 after acquiring an additional 256 shares during the period. AQR Capital Management LLC lifted its stake in Clearfield by 6.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,959 shares of the communications equipment provider’s stock valued at $307,000 after acquiring an additional 281 shares during the period. Northern Trust Corp lifted its stake in Clearfield by 0.3% during the 2nd quarter. Northern Trust Corp now owns 119,015 shares of the communications equipment provider’s stock valued at $7,373,000 after acquiring an additional 349 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in Clearfield by 6.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,786 shares of the communications equipment provider’s stock valued at $377,000 after acquiring an additional 359 shares during the period. 66.56% of the stock is currently owned by institutional investors and hedge funds.

About Clearfield

(Get Free Report)

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.

See Also

Earnings History and Estimates for Clearfield (NASDAQ:CLFD)

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