Clearfield (NASDAQ:CLFD) Releases Earnings Results, Beats Estimates By $0.03 EPS

Clearfield (NASDAQ:CLFD) issued its quarterly earnings results on Thursday. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03, Fidelity Earnings reports. The company had revenue of $23.97 million for the quarter, compared to analyst estimates of $23.65 million. Clearfield had a return on equity of 6.43% and a net margin of 5.46%.

CLFD stock traded up $0.13 during trading hours on Friday, hitting $12.39. 17,600 shares of the stock traded hands, compared to its average volume of 24,135. Clearfield has a one year low of $8.41 and a one year high of $16.75. The stock has a 50-day simple moving average of $12.13 and a 200 day simple moving average of $12.80. The company has a market cap of $168.33 million, a P/E ratio of 38.72 and a beta of 1.50.

CLFD has been the topic of a number of research analyst reports. Northland Securities reissued a “buy” rating and set a $17.00 price target on shares of Clearfield in a report on Friday, July 26th. Roth Capital assumed coverage on Clearfield in a research note on Wednesday, August 21st. They set a “buy” rating and a $19.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $16.33.

About Clearfield

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 FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures.

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Earnings History for Clearfield (NASDAQ:CLFD)

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