Clearfield (NASDAQ:CLFD) Releases Earnings Results, Beats Estimates By $0.03 EPS

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Clearfield (NASDAQ:CLFD) released its earnings results on Thursday. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03, Fidelity Earnings reports. The business had revenue of $23.97 million for the quarter, compared to analyst estimates of $23.65 million. Clearfield had a return on equity of 6.43% and a net margin of 5.46%.

CLFD stock traded up $0.13 on Friday, reaching $12.39. 17,600 shares of the company’s stock were exchanged, compared to its average volume of 24,135. Clearfield has a twelve month low of $8.41 and a twelve month high of $16.75. The stock has a fifty day moving average of $12.13 and a 200-day moving average of $12.80. The firm has a market cap of $168.33 million, a PE ratio of 38.72 and a beta of 1.50.

CLFD has been the topic of a number of recent research reports. Roth Capital initiated coverage on Clearfield in a report on Wednesday, August 21st. They issued a “buy” rating and a $19.00 target price on the stock. Northland Securities reissued a “buy” rating and issued a $17.00 target price on shares of Clearfield in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.33.

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 FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

Further Reading: Market Perform

Earnings History for Clearfield (NASDAQ:CLFD)

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