Clarivate (NYSE:CLVT) Issues Quarterly Earnings Results, Meets Estimates

Clarivate (NYSE:CLVT) released its earnings results on Wednesday. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19, Briefing.com reports. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.99%. The business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year.

Clarivate Trading Down 2.4 %

Shares of NYSE:CLVT traded down $0.11 during trading on Friday, reaching $4.57. The stock had a trading volume of 7,631,017 shares, compared to its average volume of 3,869,349. Clarivate has a 52 week low of $4.55 and a 52 week high of $9.60. The firm’s fifty day moving average is $6.56 and its 200 day moving average is $6.28. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83.

Wall Street Analyst Weigh In

Several analysts have issued reports on CLVT shares. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Barclays dropped their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada lowered their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.25.

Insiders Place Their Bets

In other news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the sale, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares of the company’s stock, valued at $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,646 shares of company stock worth $1,379,111. Company insiders own 22.77% of the company’s stock.

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.