Clearfield (NASDAQ:CLFD) Releases Earnings Results, Beats Expectations By $0.13 EPS

Clearfield (NASDAQ:CLFD) released its quarterly earnings data on Thursday. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.13, Briefing.com reports. Clearfield had a negative return on equity of 3.06% and a negative net margin of 5.26%. The firm had revenue of $46.80 million during the quarter, compared to the consensus estimate of $41.95 million. During the same period in the previous year, the company posted $0.17 earnings per share. The firm’s quarterly revenue was down 5.8% on a year-over-year basis.

Clearfield Stock Performance

Shares of NASDAQ:CLFD traded down $2.29 on Friday, hitting $34.51. 319,033 shares of the company were exchanged, compared to its average volume of 155,896. The firm has a market capitalization of $491.42 million, a P/E ratio of -55.66 and a beta of 1.35. The company has a current ratio of 8.38, a quick ratio of 5.73 and a debt-to-equity ratio of 0.01. Clearfield has a 1-year low of $23.45 and a 1-year high of $44.83. The stock’s 50 day moving average price is $37.55 and its 200 day moving average price is $37.61.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Clearfield in a research report on Friday. Roth Mkm dropped their price objective on Clearfield from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Northland Securities boosted their target price on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Clearfield from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Lake Street Capital raised Clearfield from a “hold” rating to a “buy” rating and raised their price objective for the stock from $31.00 to $47.00 in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Clearfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

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.