Clarivate Plc (NYSE:CLVT) Receives Average Rating of “Hold” from Analysts

Clarivate Plc (NYSE:CLVT) has been given an average recommendation of “Hold” by the nine brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.00.

Several equities analysts have commented on the stock. Oppenheimer decreased their price target on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Barclays lowered their target price on Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Royal Bank of Canada cut their target price on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, Morgan Stanley reduced their target price on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new stake in Clarivate in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC lifted its stake in shares of Clarivate by 201.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,682 shares of the company’s stock valued at $45,000 after purchasing an additional 3,129 shares during the period. Macquarie Group Ltd. boosted its holdings in Clarivate by 40.5% during the first quarter. Macquarie Group Ltd. now owns 6,077 shares of the company’s stock worth $57,000 after buying an additional 1,753 shares in the last quarter. Montag A & Associates Inc. grew its position in Clarivate by 729.6% during the fourth quarter. Montag A & Associates Inc. now owns 7,732 shares of the company’s stock worth $72,000 after buying an additional 6,800 shares during the period. Finally, Forum Financial Management LP purchased a new position in Clarivate in the third quarter valued at about $81,000. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Stock Performance

Shares of CLVT stock opened at $6.91 on Thursday. The firm has a market cap of $4.62 billion, a P/E ratio of -4.67, a P/E/G ratio of 1.41 and a beta of 1.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.91 and a current ratio of 0.91. Clarivate has a one year low of $6.07 and a one year high of $10.03. The firm’s 50 day moving average price is $7.71 and its 200-day moving average price is $7.84.

Clarivate (NYSE:CLVT) last released its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The company had revenue of $683.70 million during the quarter, compared to the consensus estimate of $687.80 million. During the same period in the previous year, the company posted $0.20 EPS. Clarivate’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Clarivate will post 0.61 EPS for the current year.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.