Clearfield (CLFD) Scheduled to Post Earnings on Thursday

Clearfield (NASDAQ:CLFD) is set to post its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Clearfield to post 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.Parties that wish to register for the company’s conference call can do so using this link.

Clearfield (NASDAQ:CLFD) last announced 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 for the quarter, compared to analyst estimates of $29.88 million. Clearfield had a return on equity of 4.22% and a net margin of 6.00%. The company’s revenue was down 60.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. On average, analysts expect Clearfield to post $-1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Clearfield Stock Performance

CLFD traded down $0.28 during midday trading on Tuesday, hitting $29.62. The stock had a trading volume of 15,513 shares, compared to its average volume of 197,944. The company has a market cap of $435.71 million, a P/E ratio of 36.46 and a beta of 1.32. Clearfield has a 1 year low of $22.91 and a 1 year high of $50.82. The business has a fifty day moving average of $29.73 and a 200 day moving average of $28.01.

Insiders Place Their Bets

In other news, Chairman Ronald G. Roth purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average cost of $29.62 per share, for a total transaction of $59,240.00. Following the completion of the transaction, the chairman now directly owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.00% of the company’s stock.

Wall Street Analyst Weigh In

CLFD has been the topic of a number of analyst reports. Roth Mkm decreased their target price on shares of Clearfield from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, January 29th. Needham & Company LLC restated a “buy” rating and set a $36.00 price target on shares of Clearfield in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $42.20.

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.