Roth Capital Brokers Decrease Earnings Estimates for Clearfield, Inc. (NASDAQ:CLFD)

Clearfield, Inc. (NASDAQ:CLFD) – Stock analysts at Roth Capital reduced their Q3 2024 EPS estimates for Clearfield in a research note issued on Wednesday, May 1st. Roth Capital analyst S. Searle now anticipates that the communications equipment provider will post earnings per share of ($0.20) for the quarter, down from their previous forecast of ($0.15). The consensus estimate for Clearfield’s current full-year earnings is ($1.03) per share. Roth Capital also issued estimates for Clearfield’s FY2024 earnings at ($0.44) EPS.

Clearfield (NASDAQ:CLFD) last released its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.13. Clearfield had a net margin of 6.00% and a return on equity of 4.22%. The business had revenue of $36.90 million during the quarter, compared to the consensus estimate of $31.25 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue was down 43.1% on a year-over-year basis.

CLFD has been the topic of a number of other reports. Needham & Company LLC boosted their target price on shares of Clearfield from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday. Roth Mkm reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Clearfield in a research note on Wednesday. Finally, Northland Securities raised Clearfield from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $25.00 to $40.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Clearfield has a consensus rating of “Hold” and an average target price of $42.40.

Clearfield Stock Performance

Shares of CLFD opened at $36.13 on Friday. Clearfield has a fifty-two week low of $22.91 and a fifty-two week high of $50.82. The company’s fifty day moving average is $29.81 and its 200 day moving average is $28.09. The stock has a market capitalization of $531.36 million, a PE ratio of 44.06 and a beta of 1.33.

Institutional Trading of Clearfield

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Securities Inc. bought a new position in Clearfield during the 4th quarter worth about $25,000. Parkside Financial Bank & Trust raised its stake in Clearfield by 134.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,130 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 648 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Clearfield by 70.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,082 shares of the communications equipment provider’s stock worth $61,000 after buying an additional 860 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Clearfield by 109.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock valued at $78,000 after acquiring an additional 1,423 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Clearfield by 28.1% in the 4th quarter. CWM LLC now owns 2,936 shares of the communications equipment provider’s stock valued at $85,000 after acquiring an additional 644 shares during the period. Institutional investors own 88.73% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Ronald G. Roth bought 2,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was purchased at an average cost of $29.62 per share, with a total value of $59,240.00. Following the completion of the purchase, the chairman now owns 1,259,796 shares of the company’s stock, valued at $37,315,157.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 16.00% of the company’s stock.

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.