Clarivate (NYSE:CLVT) Announces Quarterly Earnings Results

Clarivate (NYSE:CLVTGet Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19, Briefing.com reports. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The company had revenue of $622.20 million during the quarter, compared to analyst estimates of $640.81 million. During the same period in the previous year, the business earned $0.18 EPS. Clarivate’s quarterly revenue was down 3.9% on a year-over-year basis.

Clarivate Stock Performance

CLVT traded down $0.11 during trading on Friday, hitting $4.57. The stock had a trading volume of 7,631,017 shares, compared to its average volume of 4,298,344. The company has a 50 day moving average price of $6.56 and a 200-day moving average price of $6.28. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -2.39 and a beta of 1.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. Clarivate has a one year low of $4.55 and a one year high of $9.60.

Insider Activity

In other news, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now owns 23,741 shares in the company, valued at $160,251.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the transaction, the insider now owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,646 shares of company stock worth $1,379,111. Corporate insiders own 23.14% of the company’s stock.

Analyst Upgrades and Downgrades

CLVT has been the topic of several recent research reports. Barclays reduced their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Royal Bank of Canada lowered their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.25.

Check Out Our Latest Research Report on CLVT

About Clarivate

(Get Free Report)

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.

Further Reading

Earnings History for Clarivate (NYSE:CLVT)

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