$446.95 Million in Sales Expected for Clarivate Plc (NYSE:CLVT) This Quarter

Wall Street brokerages predict that Clarivate Plc (NYSE:CLVT) will post sales of $446.95 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Clarivate’s earnings, with estimates ranging from $446.60 million to $447.30 million. Clarivate reported sales of $284.36 million during the same quarter last year, which suggests a positive year over year growth rate of 57.2%. The company is expected to issue its next earnings report before the market opens on Thursday, October 28th.

On average, analysts expect that Clarivate will report full-year sales of $1.83 billion for the current financial year, with estimates ranging from $1.81 billion to $1.84 billion. For the next financial year, analysts forecast that the firm will post sales of $1.95 billion, with estimates ranging from $1.93 billion to $1.96 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Clarivate.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Thursday, July 29th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $445.65 million during the quarter, compared to analyst estimates of $429.80 million. Clarivate had a negative net margin of 8.49% and a positive return on equity of 4.53%.

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Clarivate from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, September 30th. Bank of America began coverage on shares of Clarivate in a research report on Monday, August 16th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Clarivate from a “sell” rating to a “hold” rating in a research report on Tuesday, October 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Clarivate has a consensus rating of “Buy” and an average price target of $30.83.

A number of hedge funds and other institutional investors have recently modified their holdings of CLVT. Leonard Green & Partners L.P. acquired a new stake in Clarivate in the 2nd quarter valued at about $3,211,829,000. Price T Rowe Associates Inc. MD acquired a new stake in Clarivate in the 2nd quarter valued at about $1,906,467,000. Massachusetts Financial Services Co. MA acquired a new stake in Clarivate in the 2nd quarter valued at about $760,346,000. BlackRock Inc. acquired a new stake in Clarivate in the 2nd quarter valued at about $476,734,000. Finally, FMR LLC acquired a new stake in Clarivate in the 2nd quarter valued at about $298,280,000. 71.58% of the stock is owned by institutional investors.

Clarivate stock opened at $21.38 on Thursday. The company has a 50-day simple moving average of $23.56 and a 200-day simple moving average of $25.65. The firm has a market capitalization of $13.73 billion, a P/E ratio of -82.23, a P/E/G ratio of 3.72 and a beta of 0.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.60 and a current ratio of 1.60. Clarivate has a one year low of $20.31 and a one year high of $34.79.

Clarivate Company Profile

Clarivate Plc engages in the provision of trusted insights and analytics to accelerate the pace of innovation. It operates through the Science and Intellectual Property segments. The Science segment comprises the academic and life science product lines. The Intellectual Property segment includes patent, trademark, domain, and IP management product lines.

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Earnings History and Estimates for Clarivate (NYSE:CLVT)

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