Clearfield (NASDAQ:CLFD – Get Free Report) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of -0.380–0.310 for the period, compared to the consensus earnings per share estimate of -0.260. The company issued revenue guidance of $40.0 million-$44.0 million, compared to the consensus revenue estimate of $37.6 million.
Clearfield Stock Down 3.2 %
Clearfield stock traded down $1.14 during mid-day trading on Monday, reaching $34.99. 403,400 shares of the company’s stock were exchanged, compared to its average volume of 209,544. Clearfield has a twelve month low of $22.91 and a twelve month high of $50.82. The company has a market cap of $514.70 million, a P/E ratio of -139.96 and a beta of 1.33. The company has a fifty day moving average of $30.06 and a 200-day moving average of $28.24.
Clearfield (NASDAQ:CLFD – Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.13. Clearfield had a negative return on equity of 1.08% and a negative net margin of 1.79%. The business had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $31.25 million. During the same period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was down 43.1% compared to the same quarter last year. Equities research analysts expect that Clearfield will post -0.8 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
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Insiders Place Their Bets
In other news, Chairman Ronald G. Roth purchased 2,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $29.62 per share, with a total value of $59,240.00. Following the completion of the transaction, the chairman now directly owns 1,259,796 shares in the company, valued at approximately $37,315,157.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is currently owned by corporate 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.
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