$446.95 Million in Sales Expected for Clarivate Plc (NYSE:CLVT) This Quarter

Equities research analysts forecast that Clarivate Plc (NYSE:CLVT) will report $446.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Clarivate’s earnings, with the lowest sales estimate coming in at $446.60 million and the highest estimate coming in at $447.30 million. Clarivate reported sales of $284.36 million in the same quarter last year, which would suggest a positive year over year growth rate of 57.2%. The company is scheduled to report its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Clarivate will report full year sales of $1.83 billion for the current financial year, with estimates ranging from $1.81 billion to $1.84 billion. For the next year, analysts forecast that the company will post sales of $1.95 billion, with estimates ranging from $1.93 billion to $1.96 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Clarivate.

A number of research analysts have recently weighed in on CLVT shares. Bank of America started coverage on Clarivate in a report on Monday, August 16th. They set a “buy” rating and a $28.00 price target on the stock. Morgan Stanley lowered their price target on Clarivate from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, July 30th. Finally, Zacks Investment Research downgraded Clarivate from a “hold” rating to a “sell” rating in a report on Thursday, August 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $31.17.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fiera Capital Corp acquired a new stake in shares of Clarivate in the second quarter worth about $709,000. Montag & Caldwell LLC acquired a new stake in shares of Clarivate in the second quarter worth about $949,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Clarivate in the second quarter worth about $5,767,000. Eagle Asset Management Inc. acquired a new stake in shares of Clarivate in the second quarter worth about $72,066,000. Finally, Gulf International Bank UK Ltd acquired a new position in shares of Clarivate during the 2nd quarter worth about $2,140,000. Hedge funds and other institutional investors own 71.58% of the company’s stock.

Shares of CLVT stock opened at $23.54 on Friday. Clarivate has a 1-year low of $20.82 and a 1-year high of $34.79. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of -90.54, a P/E/G ratio of 4.19 and a beta of 0.53. The stock’s fifty day simple moving average is $24.21 and its 200-day simple moving average is $25.91.

Clarivate Company Profile

Clarivate Plc engages in the provision of trusted insights and analytics to accelerate the pace of innovation. It operates through the Science and Intellectual Property segments. The Science segment comprises the academic and life science product lines. The Intellectual Property segment includes patent, trademark, domain, and IP management product lines.

Featured Story: Hang Seng Index (HSI)

Get a free copy of the Zacks research report on Clarivate (CLVT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Clarivate (NYSE:CLVT)

Receive News & Ratings for Clarivate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clarivate and related companies with MarketBeat.com's FREE daily email newsletter.