Clearfield (NASDAQ:CLFD) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Clearfield (NASDAQ:CLFD) released its earnings results on Thursday. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03, Fidelity Earnings reports. The company had revenue of $23.97 million for the quarter, compared to analyst estimates of $23.65 million. Clearfield had a return on equity of 6.43% and a net margin of 5.46%.

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NASDAQ:CLFD traded up $0.13 during trading hours on Friday, hitting $12.39. The company’s stock had a trading volume of 17,600 shares, compared to its average volume of 24,135. Clearfield has a twelve month low of $8.41 and a twelve month high of $16.75. The company has a market capitalization of $168.33 million, a P/E ratio of 38.72 and a beta of 1.50. The stock has a fifty day simple moving average of $12.13 and a 200-day simple moving average of $12.80.

Several analysts have recently issued reports on CLFD shares. Roth Capital started coverage on Clearfield in a report on Wednesday, August 21st. They set a “buy” rating and a $19.00 target price on the stock. Northland Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Clearfield in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Clearfield currently has a consensus rating of “Buy” and a consensus target price of $16.33.

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 FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

Further Reading: Rule of 72

Earnings History for Clearfield (NASDAQ:CLFD)

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