Clearfield (NASDAQ:CLFD) Issues Q4 2024 Earnings Guidance

Clearfield (NASDAQ:CLFD) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of -0.220–0.170 for the period, compared to the consensus EPS estimate of -0.250. The company issued revenue guidance of $40.0 million-$43.0 million, compared to the consensus revenue estimate of $43.1 million.

Clearfield Stock Performance

Shares of CLFD traded down $3.62 during trading hours on Friday, reaching $39.02. The stock had a trading volume of 358,641 shares, compared to its average volume of 114,880. The stock has a market capitalization of $555.25 million, a PE ratio of -156.08 and a beta of 1.39. Clearfield has a 12 month low of $22.91 and a 12 month high of $46.69. The company’s 50-day moving average is $39.26 and its two-hundred day moving average is $33.55.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, August 1st. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.30. The business had revenue of $48.79 million during the quarter, compared to the consensus estimate of $42.13 million. Clearfield had a negative return on equity of 3.00% and a negative net margin of 5.26%. Clearfield’s quarterly revenue was down 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. Equities analysts anticipate that Clearfield will post -1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CLFD shares. Needham & Company LLC restated a buy rating and issued a $42.00 price objective on shares of Clearfield in a report on Thursday, May 16th. Northland Securities increased their price objective on Clearfield from $40.00 to $45.00 and gave the company an outperform rating in a report on Friday. StockNews.com upgraded Clearfield to a sell rating in a report on Friday, June 21st. Lake Street Capital upgraded Clearfield from a hold rating to a buy rating and increased their price target for the stock from $31.00 to $47.00 in a report on Friday. Finally, Roth Mkm decreased their price target on Clearfield from $47.00 to $45.00 and set a buy rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $44.80.

Insider Transactions at Clearfield

In other Clearfield news, Chairman Ronald G. Roth purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $36.40 per share, with a total value of $72,800.00. Following the transaction, the chairman now owns 1,261,796 shares in the company, valued at $45,929,374.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 16.00% of the company’s stock.

Clearfield Company Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.