Clearfield (CLFD) Releases Earnings Results, Beats Expectations By $0.09 EPS

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Clearfield (NASDAQ:CLFD) issued its earnings results on Thursday. The communications equipment provider reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.09, MarketWatch Earnings reports. The business had revenue of $22.47 million during the quarter, compared to analysts’ expectations of $20.50 million. Clearfield had a net margin of 4.96% and a return on equity of 7.10%.

Clearfield stock traded up $1.24 during midday trading on Friday, hitting $13.71. 110,773 shares of the stock were exchanged, compared to its average volume of 17,435. Clearfield has a fifty-two week low of $10.35 and a fifty-two week high of $15.30. The stock has a market cap of $170.75 million, a P/E ratio of 42.84 and a beta of 1.18.

A number of brokerages have recently commented on CLFD. ValuEngine upgraded shares of Clearfield from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research cut shares of Clearfield from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th.

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in Clearfield during the third quarter worth about $176,000. Bank of New York Mellon Corp increased its position in Clearfield by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock worth $612,000 after purchasing an additional 4,107 shares during the last quarter. Royal Bank of Canada increased its position in Clearfield by 11.7% during the first quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock worth $1,631,000 after purchasing an additional 13,275 shares during the last quarter. Finally, BlackRock Inc. increased its position in Clearfield by 3.2% during the second quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock worth $9,017,000 after purchasing an additional 25,107 shares during the last quarter. Hedge funds and other institutional investors own 29.19% of the company’s stock.

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Clearfield Company Profile

Clearfield, Inc manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offers Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.

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Earnings History for Clearfield (NASDAQ:CLFD)

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