Analysts Expect Clearfield Inc (NASDAQ:CLFD) to Post $0.09 Earnings Per Share

Shares of Clearfield Inc (NASDAQ:CLFD) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $17.00 for the company and are predicting that the company will post $0.09 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 32 out of 256 based on the ratings given to its competitors.

A number of research firms have recently weighed in on CLFD. Zacks Investment Research raised Clearfield from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. ValuEngine lowered Clearfield from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet raised Clearfield from a “c+” rating to a “b” rating in a research report on Monday, March 4th.

A number of large investors have recently bought and sold shares of CLFD. Vanguard Group Inc. increased its position in Clearfield by 8.6% in the third quarter. Vanguard Group Inc. now owns 487,386 shares of the communications equipment provider’s stock worth $6,556,000 after buying an additional 38,600 shares in the last quarter. Vanguard Group Inc grew its position in shares of Clearfield by 8.6% during the third quarter. Vanguard Group Inc now owns 487,386 shares of the communications equipment provider’s stock worth $6,556,000 after purchasing an additional 38,600 shares in the last quarter. Rhumbline Advisers grew its position in shares of Clearfield by 47.0% during the fourth quarter. Rhumbline Advisers now owns 15,332 shares of the communications equipment provider’s stock worth $152,000 after purchasing an additional 4,902 shares in the last quarter. BlackRock Inc. grew its position in shares of Clearfield by 0.5% during the fourth quarter. BlackRock Inc. now owns 818,955 shares of the communications equipment provider’s stock worth $8,124,000 after purchasing an additional 3,920 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Clearfield by 123.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,917 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 4,935 shares in the last quarter. 29.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Clearfield stock traded up $0.01 during trading hours on Friday, reaching $13.43. 9,408 shares of the company were exchanged, compared to its average volume of 15,752. Clearfield has a 1 year low of $8.41 and a 1 year high of $16.75. The firm has a market capitalization of $183.37 million, a P/E ratio of 41.97 and a beta of 1.61.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, April 25th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Clearfield had a return on equity of 7.22% and a net margin of 6.03%. The company had revenue of $19.08 million for the quarter, compared to analysts’ expectations of $19.00 million. On average, equities research analysts expect that Clearfield will post 0.3 EPS for the current year.

Clearfield Company Profile

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.

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