Clearfield (NASDAQ:CLFD) Updates Q4 2024 Earnings Guidance

Clearfield (NASDAQ:CLFD) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -0.220–0.170 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of Clearfield stock traded down $3.62 during trading on Friday, hitting $39.02. 358,641 shares of the company’s stock traded hands, compared to its average volume of 114,880. The firm’s fifty day moving average price is $39.26 and its 200 day moving average price is $33.55. Clearfield has a twelve month low of $22.91 and a twelve month high of $46.69. The company has a market cap of $555.25 million, a PE ratio of -156.08 and a beta of 1.39.

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

Analyst Ratings Changes

CLFD has been the topic of a number of recent analyst reports. Needham & Company LLC restated a buy rating and issued a $42.00 price target on shares of Clearfield in a research report on Thursday, May 16th. Northland Securities boosted their price target on shares of Clearfield from $40.00 to $45.00 and gave the company an outperform rating in a research report on Friday. Roth Mkm reduced their price target on shares of Clearfield from $47.00 to $45.00 and set a buy rating on the stock in a research report on Friday. Lake Street Capital upgraded shares of Clearfield from a hold rating to a buy rating and boosted their price target for the company from $31.00 to $47.00 in a research report on Friday. Finally, StockNews.com upgraded shares of Clearfield to a sell rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on 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 related news, Chairman Ronald G. Roth bought 2,000 shares of Clearfield stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of $36.40 per share, for a total transaction of $72,800.00. Following the completion of the transaction, the chairman now owns 1,261,796 shares of the company’s stock, valued at $45,929,374.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.00% of the stock is owned by company insiders.

About Clearfield

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.