Clarivate (NYSE:CLVT) Updates FY 2022 Earnings Guidance

Clarivate (NYSE:CLVT – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $0.85-$0.95 for the period, compared to the consensus EPS estimate of $0.87. The company issued revenue guidance of $2.80 billion-$2.88 billion, compared to the consensus revenue estimate of $2.82 billion.

Shares of Clarivate stock traded down $0.06 on Wednesday, reaching $14.02. 296,492 shares of the stock were exchanged, compared to its average volume of 5,827,890. The firm has a market capitalization of $9.43 billion, a PE ratio of -36.23 and a beta of 0.84. Clarivate has a 1-year low of $11.71 and a 1-year high of $34.79. The business has a fifty day moving average price of $15.71 and a two-hundred day moving average price of $18.31. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53.

Clarivate (NYSE:CLVT – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. Clarivate had a negative net margin of 4.77% and a positive return on equity of 4.89%. The firm had revenue of $662.20 million during the quarter, compared to analyst estimates of $662.84 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. Clarivate’s revenue for the quarter was up 54.6% compared to the same quarter last year. Research analysts expect that Clarivate will post 0.75 EPS for the current year.

Several brokerages have recently issued reports on CLVT. Zacks Investment Research raised shares of Clarivate from a sell rating to a hold rating in a research note on Tuesday, May 17th. Barclays cut shares of Clarivate from an overweight rating to an equal weight rating and reduced their price objective for the stock from $25.00 to $16.00 in a research note on Thursday, February 3rd. Citigroup cut shares of Clarivate from a buy rating to a neutral rating and reduced their price objective for the stock from $35.00 to $16.00 in a research note on Friday, February 4th. TheStreet cut shares of Clarivate from a c- rating to a d+ rating in a research note on Monday, March 14th. Finally, The Goldman Sachs Group cut their target price on shares of Clarivate from $23.00 to $20.00 and set a buy rating for the company in a research note on Tuesday, April 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Clarivate currently has a consensus rating of Buy and a consensus price target of $19.50.

In other news, insider James Gordon Samson sold 58,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $13.91, for a total value of $806,780.00. Following the sale, the insider now owns 888,787 shares of the company’s stock, valued at approximately $12,363,027.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 124,000 shares of company stock valued at $1,745,360. Corporate insiders own 24.88% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Clarivate by 5.6% in the 1st quarter. US Bancorp DE now owns 14,343 shares of the company’s stock worth $240,000 after purchasing an additional 765 shares during the last quarter. NEXT Financial Group Inc grew its holdings in Clarivate by 135.1% during the 4th quarter. NEXT Financial Group Inc now owns 1,615 shares of the company’s stock worth $38,000 after acquiring an additional 928 shares during the last quarter. MML Investors Services LLC grew its holdings in Clarivate by 6.8% during the 4th quarter. MML Investors Services LLC now owns 15,460 shares of the company’s stock worth $364,000 after acquiring an additional 991 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Clarivate by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock worth $89,000 after acquiring an additional 1,774 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Clarivate by 17.0% during the 4th quarter. Cetera Investment Advisers now owns 18,085 shares of the company’s stock worth $425,000 after acquiring an additional 2,622 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.

About Clarivate (Get Rating)

Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

Read More