Clear Secure (NYSE:YOU) Hits New 1-Year High on Better-Than-Expected Earnings

Clear Secure, Inc. (NYSE:YOU) hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $25.24 and last traded at $25.22, with a volume of 685920 shares trading hands. The stock had previously closed at $24.18.

The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. Clear Secure had a net margin of 7.90% and a return on equity of 20.62%. The firm had revenue of $186.75 million for the quarter, compared to the consensus estimate of $183.78 million. During the same quarter in the previous year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis.

Clear Secure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 10th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. Clear Secure’s payout ratio is 71.43%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on YOU shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $34.00 target price on shares of Clear Secure in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Clear Secure in a research report on Wednesday. Finally, Wedbush restated a “neutral” rating and set a $21.00 price target on shares of Clear Secure in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.40.

Hedge Funds Weigh In On Clear Secure

Hedge funds have recently modified their holdings of the company. Montag A & Associates Inc. bought a new stake in Clear Secure during the first quarter worth about $26,000. Quarry LP boosted its stake in Clear Secure by 86.4% during the fourth quarter. Quarry LP now owns 2,509 shares of the company’s stock worth $52,000 after acquiring an additional 1,163 shares in the last quarter. CWM LLC boosted its stake in Clear Secure by 968.0% during the second quarter. CWM LLC now owns 7,252 shares of the company’s stock worth $136,000 after acquiring an additional 6,573 shares in the last quarter. nVerses Capital LLC bought a new stake in Clear Secure during the second quarter worth about $137,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Clear Secure by 108.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 7,545 shares of the company’s stock worth $156,000 after acquiring an additional 3,928 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Clear Secure Price Performance

The firm’s 50 day moving average is $19.19 and its 200 day moving average is $18.99. The firm has a market cap of $3.70 billion, a P/E ratio of 43.18 and a beta of 1.58.

About Clear Secure

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.