Clarivate (CLVT) Expected to Announce Quarterly Earnings on Wednesday

Clarivate (NYSE:CLVT) is projected to issue its quarterly earnings data before the market opens on Wednesday, February 19th. Analysts expect the company to announce earnings of $0.20 per share and revenue of $660.13 million for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Clarivate Stock Down 0.7 %

CLVT stock opened at $4.91 on Tuesday. The stock has a market cap of $3.48 billion, a P/E ratio of -2.46 and a beta of 1.17. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate has a twelve month low of $4.25 and a twelve month high of $9.45. The company’s 50 day moving average is $5.16 and its two-hundred day moving average is $5.83.

Clarivate announced that its Board of Directors has authorized a share repurchase plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CLVT has been the subject of several research reports. Barclays reduced their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. 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 report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.10.

Insiders Place Their Bets

In related news, Director Michael J. Angelakis bought 765,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the transaction, the director now owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 22.77% of the stock is currently owned by insiders.

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.