Clearfield (CLFD) Issues Earnings Results

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Clearfield (NASDAQ:CLFD) issued its quarterly earnings results on Thursday. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.09, MarketWatch Earnings reports. The firm had revenue of $22.47 million during the quarter, compared to analyst estimates of $20.50 million. Clearfield had a return on equity of 7.10% and a net margin of 4.96%.

Shares of NASDAQ:CLFD traded up $1.24 on Friday, reaching $13.71. 110,773 shares of the company traded hands, compared to its average volume of 17,435. Clearfield has a fifty-two week low of $10.35 and a fifty-two week high of $15.30. The company has a market capitalization of $170.75 million, a PE ratio of 42.84 and a beta of 1.18.

CLFD has been the subject of a number of recent research reports. ValuEngine upgraded Clearfield from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Zacks Investment Research upgraded Clearfield from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, August 1st.

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Clearfield during the 3rd quarter valued at $176,000. Bank of New York Mellon Corp lifted its position in shares of Clearfield by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after acquiring an additional 4,107 shares during the last quarter. BlackRock Inc. lifted its position in shares of Clearfield by 3.2% during the 2nd quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock valued at $9,017,000 after acquiring an additional 25,107 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Clearfield by 11.7% during the 1st quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock valued at $1,631,000 after acquiring an additional 13,275 shares during the last quarter. Institutional investors own 29.19% of the company’s stock.

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About Clearfield

Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.

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Earnings History for Clearfield (NASDAQ:CLFD)

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