Clearfield (NASDAQ:CLFD) posted its earnings results on Thursday. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.09, MarketWatch Earnings reports. The company had revenue of $22.47 million for the quarter, compared to analyst estimates of $20.50 million. Clearfield had a net margin of 4.96% and a return on equity of 7.10%.
NASDAQ:CLFD traded up $1.24 on Friday, hitting $13.71. The stock had a trading volume of 110,773 shares, compared to its average volume of 17,435. The firm has a market capitalization of $170.75 million, a price-to-earnings ratio of 42.84 and a beta of 1.18. Clearfield has a 1-year low of $10.35 and a 1-year high of $15.30.
Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new position in Clearfield in the 3rd quarter valued at about $176,000. Bank of New York Mellon Corp boosted its holdings in Clearfield by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock valued at $612,000 after purchasing an additional 4,107 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Clearfield by 11.7% in the 1st quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock worth $1,631,000 after acquiring an additional 13,275 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Clearfield by 3.2% in the 2nd quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock worth $9,017,000 after acquiring an additional 25,107 shares during the last quarter. Institutional investors own 29.19% of the company’s stock.
Several research firms have weighed in on CLFD. Zacks Investment Research lowered shares of Clearfield from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. ValuEngine lowered shares of Clearfield from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th.
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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 Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.
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