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

Clearfield (NASDAQ:CLFD) posted its earnings results on Thursday. The communications equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.13, Zacks reports. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%.

Clearfield Stock Down 0.4 %

NASDAQ:CLFD traded down $0.13 on Thursday, reaching $36.94. 160,918 shares of the stock traded hands, compared to its average volume of 123,339. The company has a market capitalization of $521.85 million, a price-to-earnings ratio of -43.46 and a beta of 1.28. The company has a current ratio of 9.43, a quick ratio of 6.69 and a debt-to-equity ratio of 0.01. Clearfield has a 12 month low of $27.06 and a 12 month high of $44.83. The company’s fifty day simple moving average is $33.93 and its 200 day simple moving average is $35.93.

Insider Buying and Selling at Clearfield

In other news, Chairman Ronald G. Roth acquired 5,000 shares of Clearfield stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $31.00 per share, for a total transaction of $155,000.00. Following the purchase, the chairman now owns 1,266,796 shares in the company, valued at $39,270,676. This trade represents a 0.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.80% of the stock is owned by company insiders.

Analyst Ratings Changes

CLFD has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Clearfield in a research note on Thursday, January 16th. StockNews.com lowered shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Saturday, January 11th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.75.

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.