Clearfield (CLFD) Issues Earnings Results

Clearfield (NASDAQ:CLFD) released its quarterly earnings results on Thursday. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01, Bloomberg Earnings reports. Clearfield had a return on equity of 5.95% and a net margin of 5.20%.

Shares of Clearfield (NASDAQ CLFD) traded down $0.41 during midday trading on Friday, hitting $11.49. The stock had a trading volume of 4,373 shares, compared to its average volume of 20,184. Clearfield has a 12-month low of $11.00 and a 12-month high of $18.60. The stock has a market cap of $165.72, a P/E ratio of 39.32 and a beta of 1.26.

A number of equities analysts have issued reports on CLFD shares. Lake Street Capital lifted their price target on Clearfield from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Northland Securities set a $15.00 price target on Clearfield and gave the company a “buy” rating in a research note on Tuesday, October 17th. Finally, Zacks Investment Research upgraded Clearfield from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 10th.

An institutional investor recently raised its position in Clearfield stock. The Manufacturers Life Insurance Company lifted its holdings in Clearfield Inc (NASDAQ:CLFD) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,905 shares of the communications equipment provider’s stock after buying an additional 424 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Clearfield worth $131,000 at the end of the most recent reporting period. Institutional investors own 28.93% of the company’s stock.

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Clearfield Company Profile

Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.

Earnings History for Clearfield (NASDAQ:CLFD)

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