Clearfield (NASDAQ:CLFD – Get Free Report) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of -0.380–0.310 for the period, compared to the consensus earnings per share estimate of -0.260. The company issued revenue guidance of $40.0 million-$44.0 million, compared to the consensus revenue estimate of $37.6 million.
Clearfield Stock Down 3.2 %
Shares of CLFD stock traded down $1.14 during trading hours on Monday, hitting $34.99. 403,400 shares of the company’s stock were exchanged, compared to its average volume of 209,544. The firm has a 50 day moving average of $30.06 and a two-hundred day moving average of $28.24. Clearfield has a fifty-two week low of $22.91 and a fifty-two week high of $50.82. The firm has a market cap of $514.70 million, a P/E ratio of -139.96 and a beta of 1.33.
Clearfield (NASDAQ:CLFD – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.13. The business had revenue of $36.90 million for the quarter, compared to the consensus estimate of $31.25 million. Clearfield had a negative net margin of 1.79% and a negative return on equity of 1.08%. The company’s revenue was down 43.1% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. On average, equities analysts forecast that Clearfield will post -0.8 earnings per share for the current fiscal year.
Analysts Set New Price Targets
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Insiders Place Their Bets
In related news, Chairman Ronald G. Roth acquired 2,000 shares of the stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $29.62 per share, with a total value of $59,240.00. Following the completion of the purchase, the chairman now owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.00% of the company’s stock.
Clearfield Company Profile
Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.
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