Clarivate (NYSE:CLVT) Announces Quarterly Earnings Results

Clarivate (NYSE:CLVT) 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.

About Clarivate

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.