Clearfield (CLFD) Issues Earnings Results

Clearfield (NASDAQ:CLFD) announced its earnings results on Thursday. The communications equipment provider reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01, Bloomberg Earnings reports. Clearfield had a net margin of 5.20% and a return on equity of 5.95%.

Shares of Clearfield (NASDAQ CLFD) opened at $11.01 on Friday. The firm has a market cap of $165.72, a price-to-earnings ratio of 42.86 and a beta of 1.26. Clearfield has a 12 month low of $11.00 and a 12 month high of $18.60.

An institutional investor recently raised its position in Clearfield stock. The Manufacturers Life Insurance Company lifted its stake in Clearfield Inc (NASDAQ:CLFD) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,905 shares of the communications equipment provider’s stock after purchasing an additional 424 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Clearfield worth $131,000 at the end of the most recent reporting period. 28.93% of the stock is currently owned by institutional investors.

CLFD has been the subject of a number of research reports. Zacks Investment Research lowered shares of Clearfield from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Lake Street Capital reiterated a “buy” rating on shares of Clearfield in a research note on Saturday, December 30th. Finally, Northland Securities set a $15.00 target price on shares of Clearfield and gave the company a “buy” rating in a research note on Tuesday, October 17th.

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Clearfield Company Profile

Clearfield, Inc manufactures, markets and sells fiber management and enclosure platform that consolidates, distributes and protects fiber as it moves from the inside plant to the outside plant and all the way to the home, business and cell site. The Company’s products include Clearview Cassette, which is the building block of its product platform; Connectivity and Optical Components; FieldSmart, which is a series of panels, cabinets, wall boxes and other enclosures that house the Clearview components; FieldShield, which is a fiber delivery method for broadband deployment; CraftSmart, which is a line of optical protection field enclosures, and Cable Assemblies.

Earnings History for Clearfield (NASDAQ:CLFD)

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