Shares of Clearfield Inc (NASDAQ:CLFD) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price objective of $14.00 for the company and are anticipating that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Clearfield an industry rank of 10 out of 257 based on the ratings given to related companies.
A number of brokerages have weighed in on CLFD. ValuEngine upgraded Clearfield from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded Clearfield from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, August 1st.
Clearfield (NASDAQ:CLFD) last issued its earnings results on Thursday, November 8th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.09. The business had revenue of $22.47 million during the quarter, compared to the consensus estimate of $20.50 million. Clearfield had a return on equity of 7.91% and a net margin of 5.51%. On average, equities analysts anticipate that Clearfield will post 0.3 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in Clearfield in the third quarter worth approximately $176,000. Bank of New York Mellon Corp increased its holdings in Clearfield by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock worth $612,000 after purchasing an additional 4,107 shares in the last quarter. Royal Bank of Canada increased its holdings in Clearfield by 11.7% in the first quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock worth $1,631,000 after purchasing an additional 13,275 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 purchasing an additional 38,600 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Clearfield by 1.5% in the third quarter. Renaissance Technologies LLC now owns 508,999 shares of the communications equipment provider’s stock worth $6,846,000 after purchasing an additional 7,700 shares in the last quarter. Institutional investors and hedge funds own 28.72% of the company’s stock.
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 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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