Brokerages Expect Clearfield Inc (CLFD) to Announce $0.03 EPS

Shares of Clearfield Inc (NASDAQ:CLFD) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price target of $15.50 for the company and are expecting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also given Clearfield an industry rank of 216 out of 265 based on the ratings given to related companies.

CLFD has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Clearfield from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Lake Street Capital restated a “buy” rating on shares of Clearfield in a report on Saturday, December 30th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in shares of Clearfield by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,905 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 424 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Clearfield during the third quarter valued at approximately $145,000. Wells Fargo & Company MN increased its stake in shares of Clearfield by 63.6% during the third quarter. Wells Fargo & Company MN now owns 12,276 shares of the communications equipment provider’s stock valued at $166,000 after purchasing an additional 4,773 shares in the last quarter. Concourse Capital Management LLC bought a new position in shares of Clearfield during the third quarter valued at approximately $226,000. Finally, OxFORD Asset Management LLP increased its stake in shares of Clearfield by 21.8% during the second quarter. OxFORD Asset Management LLP now owns 17,789 shares of the communications equipment provider’s stock valued at $235,000 after purchasing an additional 3,187 shares in the last quarter. 30.03% of the stock is owned by institutional investors and hedge funds.

Shares of Clearfield (CLFD) opened at $12.25 on Tuesday. Clearfield has a 1-year low of $11.00 and a 1-year high of $17.65. The company has a market cap of $169.27, a PE ratio of 42.24 and a beta of 1.15.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, January 25th. The communications equipment provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Clearfield had a net margin of 5.39% and a return on equity of 6.00%. The business had revenue of $16.87 million during the quarter, compared to analyst estimates of $18.30 million. analysts forecast that Clearfield will post 0.32 EPS for the current fiscal year.

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Clearfield Company Profile

Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.

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