Clarivate (CLVT) Scheduled to Post Quarterly Earnings on Wednesday

Clarivate (NYSE:CLVT) is set to post its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect Clarivate to post earnings of $0.14 per share for the quarter. Clarivate has set its FY 2024 guidance at 0.700-0.800 EPS and its FY24 guidance at $0.70 to $0.80 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The firm had revenue of $683.70 million for the quarter, compared to analysts’ expectations of $687.80 million. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS. On average, analysts expect Clarivate to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Clarivate Trading Up 2.9 %

Shares of Clarivate stock opened at $7.05 on Tuesday. Clarivate has a 52-week low of $6.07 and a 52-week high of $10.03. The stock has a market cap of $4.71 billion, a PE ratio of -4.76, a PEG ratio of 1.41 and a beta of 1.24. The firm has a 50-day moving average of $7.21 and a 200-day moving average of $7.88. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.91 and a current ratio of 0.91.

Analysts Set New Price Targets

Several research analysts have recently commented on CLVT shares. Oppenheimer lowered their target price on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Barclays dropped their price target on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Morgan Stanley dropped their price target on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada dropped their price target on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.00.

About Clarivate

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.