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

Clearfield (NASDAQ:CLFD) announced 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 during the quarter, compared to analysts’ expectations of $23.65 million. Clearfield had a return on equity of 6.43% and a net margin of 5.46%.

Shares of CLFD stock traded up $0.13 on Friday, reaching $12.39. The company had a trading volume of 17,600 shares, compared to its average volume of 24,135. The stock has a market cap of $168.33 million, a PE ratio of 38.72 and a beta of 1.50. Clearfield has a 12 month low of $8.41 and a 12 month high of $16.75. The company has a 50-day moving average of $12.13 and a 200-day moving average of $12.80.

A number of brokerages have recently commented on CLFD. Roth Capital began coverage on Clearfield in a research note on Wednesday, August 21st. They issued a “buy” rating and a $19.00 price target for the company. Northland Securities reaffirmed a “buy” rating and issued a $17.00 price target on shares of Clearfield in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price 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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