Analysts Expect Clearfield Inc. (CLFD) to Post $0.12 EPS

Clearfield Inc. (NASDAQ:CLFD) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus target price of $23.00 for the company and are expecting that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 171 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded shares of Clearfield from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a report on Friday, July 29th.

In related news, COO John P. Hill sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $19.16, for a total value of $95,800.00. Following the sale, the chief operating officer now owns 244,593 shares in the company, valued at $4,686,401.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cheryl Beranek sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $19.21, for a total transaction of $192,100.00. Following the completion of the sale, the chief executive officer now owns 592,025 shares in the company, valued at approximately $11,372,800.25. The disclosure for this sale can be found here. 19.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of CLFD. BlackRock Advisors LLC boosted its stake in shares of Clearfield by 1.3% in the second quarter. BlackRock Advisors LLC now owns 6,077 shares of the company’s stock valued at $109,000 after buying an additional 77 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of Clearfield during the second quarter valued at about $160,000. Rhumbline Advisers boosted its stake in shares of Clearfield by 3.0% in the second quarter. Rhumbline Advisers now owns 10,987 shares of the company’s stock valued at $197,000 after buying an additional 315 shares in the last quarter. Teachers Advisors Inc. boosted its stake in shares of Clearfield by 7.5% in the second quarter. Teachers Advisors Inc. now owns 17,448 shares of the company’s stock valued at $312,000 after buying an additional 1,219 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Clearfield by 14.6% in the first quarter. Royal Bank of Canada now owns 20,135 shares of the company’s stock valued at $324,000 after buying an additional 2,570 shares in the last quarter. Institutional investors own 25.91% of the company’s stock.

Shares of Clearfield (NASDAQ:CLFD) traded down 1.44% during midday trading on Monday, reaching $17.85. 8,887 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $18.40 and a 200-day moving average of $17.96. The stock has a market cap of $251.58 million, a price-to-earnings ratio of 37.98 and a beta of 0.64. Clearfield has a one year low of $11.59 and a one year high of $20.28.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. Clearfield had a net margin of 9.25% and a return on equity of 11.83%. The firm had revenue of $21.60 million for the quarter, compared to analysts’ expectations of $17.85 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts anticipate that Clearfield will post $0.50 earnings per share for the current year.

Clearfield Company Profile

Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, including Clearview Classic and Clearview Blue, and Clearview xPAK; Connectivity and Optical Components, including Cable-to-Cable Deployment and Optical Components; FieldSmart, including FieldSmart Fiber Crossover Distribution System, FieldSmart Fiber Scalability Center, FieldSmart Fiber Delivery Point and FieldSmart Small Count Delivery; FieldShield; CraftSmart, and Cable Assemblies.

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