Clarivate (NYSE:CLVT) Releases Quarterly Earnings Results

Clarivate (NYSE:CLVT) posted its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19, Briefing.com reports. Clarivate had a positive return on equity of 9.99% and a negative net margin of 50.00%. The business had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis.

Clarivate Stock Down 2.4 %

CLVT traded down $0.11 on Friday, reaching $4.57. The company’s stock had a trading volume of 7,631,017 shares, compared to its average volume of 3,869,349. Clarivate has a fifty-two week low of $4.55 and a fifty-two week high of $9.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average of $6.56 and a two-hundred day moving average of $6.28.

Insiders Place Their Bets

In other news, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now owns 976,583 shares in the company, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Clarivate news, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the transaction, the insider now directly owns 976,583 shares in the company, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares of the company’s stock, valued at $160,251.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,646 shares of company stock valued at $1,379,111. 22.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CLVT. Royal Bank of Canada reduced their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday. Barclays reduced their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Clarivate has a consensus rating of “Hold” and an average target price of $7.25.

Clarivate Company Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.