Clarivate Plc (NYSE:CLVT) Receives Average Rating of “Hold” from Brokerages

Clarivate Plc (NYSE:CLVT) has earned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.00.

Several research firms have recently issued reports on CLVT. Wells Fargo & Company reiterated an “underweight” rating and set a $8.00 target price on shares of Clarivate in a report on Friday, December 15th. Barclays lowered their target price on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada lowered their target price on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Finally, Oppenheimer decreased their price objective on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th.

Institutional Investors Weigh In On Clarivate

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Clarivate by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 8,225,405 shares of the company’s stock worth $76,167,000 after purchasing an additional 238,466 shares during the period. Twin Focus Capital Partners LLC bought a new stake in Clarivate in the 4th quarter worth approximately $232,000. Price T Rowe Associates Inc. MD grew its position in Clarivate by 7.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 234,343 shares of the company’s stock worth $2,171,000 after purchasing an additional 15,609 shares during the period. SkyView Investment Advisors LLC grew its position in Clarivate by 12.8% in the 4th quarter. SkyView Investment Advisors LLC now owns 127,075 shares of the company’s stock worth $1,178,000 after purchasing an additional 14,454 shares during the period. Finally, Nuveen Asset Management LLC grew its position in Clarivate by 1.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,223,952 shares of the company’s stock worth $11,334,000 after purchasing an additional 14,139 shares during the period. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Performance

Clarivate stock opened at $7.43 on Friday. The stock’s 50 day simple moving average is $8.22 and its two-hundred day simple moving average is $7.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -5.02, a PEG ratio of 1.51 and a beta of 1.25. Clarivate has a fifty-two week low of $6.07 and a fifty-two week high of $10.03.

Clarivate (NYSE:CLVT) last released its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The firm had revenue of $683.70 million during the quarter, compared to analyst estimates of $687.80 million. During the same period last year, the business earned $0.20 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, analysts expect that Clarivate will post 0.62 earnings per share for the current fiscal year.

About Clarivate

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.