Clarivate (NYSE:CLVT) Issues FY24 Earnings Guidance

Clarivate (NYSE:CLVT) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $0.70 to $0.80 for the period, compared to the consensus EPS estimate of $0.74. The company issued revenue guidance of $2.57 billion to $2.67 billion, compared to the consensus revenue estimate of $2.61 billion. Clarivate also updated its FY 2024 guidance to 0.700-0.800 EPS.

Analysts Set New Price Targets

CLVT has been the topic of a number of recent research reports. Barclays lowered their price objective on shares of Clarivate from $6.00 to $5.00 and set an underweight rating on the stock in a report on Wednesday. Royal Bank of Canada lowered their price objective on shares of Clarivate from $8.00 to $7.00 and set a sector perform rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on shares of Clarivate from $8.50 to $7.50 and set a buy rating on the stock in a report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $7.75.

Clarivate Price Performance

NYSE:CLVT opened at $5.08 on Thursday. Clarivate has a 1-year low of $4.98 and a 1-year high of $9.60. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $5.88 and a 200 day simple moving average of $6.94. The stock has a market capitalization of $3.39 billion, a PE ratio of -3.06, a P/E/G ratio of 4.38 and a beta of 1.15.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. The firm had revenue of $650.30 million during the quarter, compared to analysts’ expectations of $651.94 million. During the same period in the previous year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts expect that Clarivate will post 0.62 EPS for the current fiscal year.

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.