Clarcor Inc. to Post FY2016 Earnings of $2.60 Per Share, Oppenheimer Holdings Forecasts (CLC)
Clarcor Inc. (NYSE:CLC) – Stock analysts at Oppenheimer Holdings lowered their FY2016 earnings estimates for Clarcor in a research report issued on Monday. Oppenheimer Holdings analyst J. Giannakouros now forecasts that the firm will post earnings per share of $2.60 for the year, down from their previous forecast of $2.65. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Clarcor’s Q4 2016 earnings at $0.70 EPS, FY2017 earnings at $2.70 EPS and FY2018 earnings at $2.85 EPS.
A number of other equities research analysts have also commented on CLC. Zacks Investment Research lowered Clarcor from a “buy” rating to a “sell” rating in a research report on Monday. CL King reiterated a “neutral” rating on shares of Clarcor in a report on Wednesday, June 8th. Finally, Robert W. Baird lifted their price target on Clarcor from $61.00 to $64.00 and gave the company a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $68.50.
Clarcor (NYSE:CLC) traded up 0.61% during trading on Tuesday, hitting $63.15. The stock had a trading volume of 82,895 shares. The firm has a market cap of $3.07 billion, a PE ratio of 21.63 and a beta of 1.18. The company’s 50-day moving average is $63.73 and its 200 day moving average is $59.79. Clarcor has a 52 week low of $44.13 and a 52 week high of $66.59.
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Clarcor (NYSE:CLC) last issued its quarterly earnings data on Wednesday, September 14th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.04. Clarcor had a net margin of 10.35% and a return on equity of 11.60%. The company earned $331.40 million during the quarter, compared to the consensus estimate of $339.43 million. During the same quarter last year, the company earned $0.66 earnings per share. Clarcor’s revenue for the quarter was down 7.3% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Group LTD boosted its stake in Clarcor by 21.5% in the first quarter. BlackRock Group LTD now owns 36,472 shares of the company’s stock worth $2,107,000 after buying an additional 6,453 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its stake in Clarcor by 1.0% in the first quarter. Atlanta Capital Management Co. L L C now owns 3,761,366 shares of the company’s stock worth $217,369,000 after buying an additional 38,973 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Clarcor by 11.8% in the first quarter. Geode Capital Management LLC now owns 346,728 shares of the company’s stock valued at $20,037,000 after buying an additional 36,504 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Clarcor by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,410,200 shares of the company’s stock valued at $81,495,000 after buying an additional 12,398 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Clarcor by 13.4% in the first quarter. UBS Group AG now owns 10,729 shares of the company’s stock valued at $620,000 after buying an additional 1,264 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.
In other Clarcor news, CEO Christopher Conway sold 2,000 shares of Clarcor stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $60.81, for a total value of $121,620.00. Following the transaction, the chief executive officer now directly owns 17,023 shares of the company’s stock, valued at approximately $1,035,168.63. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David J. Lindsay sold 44,000 shares of Clarcor stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $62.14, for a total value of $2,734,160.00. Following the completion of the transaction, the vice president now directly owns 25,676 shares in the company, valued at $1,595,506.64. The disclosure for this sale can be found here. 2.96% of the stock is owned by corporate insiders.
CLARCOR Inc provides filtration products, filtration systems and services, and consumer and industrial packaging products. The Company’s segments include Engine/Mobile Filtration and Industrial/Environmental Filtration. Its Engine/Mobile Filtration segment manufactures and sells filtration products for on-road and off-road mobile and stationary applications, including trucks, agricultural machinery, transit buses, locomotives, and other industrial and specialty applications.
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