Clearfield (CLFD) Set to Announce Quarterly Earnings on Thursday

Clearfield (NASDAQ:CLFD) is scheduled to issue its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of ($0.53) per share for the quarter. Clearfield has set its Q2 guidance at ($0.55)-($0.49) EPS and its Q2 2024 guidance at -0.550–0.490 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. The firm had revenue of $34.20 million during the quarter, compared to the consensus estimate of $29.88 million. Clearfield had a net margin of 6.00% and a return on equity of 4.22%. The company’s quarterly revenue was down 60.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. On average, analysts expect Clearfield to post $-1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Clearfield Trading Up 0.6 %

Clearfield stock opened at $29.60 on Thursday. Clearfield has a 1-year low of $22.91 and a 1-year high of $50.82. The firm has a market cap of $435.33 million, a P/E ratio of 36.10 and a beta of 1.32. The firm has a 50-day moving average of $29.79 and a 200-day moving average of $27.93.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CLFD. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Clearfield in a research report on Wednesday, April 17th. Roth Mkm dropped their price target on Clearfield from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.20.

Insider Activity at Clearfield

In related news, Chairman Ronald G. Roth bought 2,000 shares of the stock in a transaction on Friday, February 23rd. The shares were acquired at an average price of $29.62 per share, for a total transaction of $59,240.00. Following 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 document filed with the SEC, which can be accessed through this link. 16.00% of the stock is currently owned by insiders.

About Clearfield

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.