Clarivate (NYSE:CLVT) Issues FY22 Earnings Guidance

Posted by on Jun 9th, 2022

Clarivate (NYSE:CLVT – Get Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.85-0.95 for the period, compared to the consensus estimate of $0.90. The company issued revenue guidance of $2.80-2.88 billion, compared to the consensus revenue estimate of $2.80 billion.

Clarivate stock traded down $0.08 during midday trading on Thursday, hitting $14.61. 37,469 shares of the company’s stock were exchanged, compared to its average volume of 5,436,440. The company has a market cap of $9.83 billion, a PE ratio of -37.67 and a beta of 0.85. The firm has a 50-day moving average of $15.37 and a two-hundred day moving average of $17.67. Clarivate has a 12 month low of $11.71 and a 12 month high of $30.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.87 and a current ratio of 0.87.

Clarivate (NYSE:CLVT – Get Rating) last released its quarterly earnings results on Monday, May 9th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $662.20 million during the quarter, compared to analyst estimates of $662.84 million. Clarivate had a negative net margin of 4.77% and a positive return on equity of 4.89%. The company’s quarterly revenue was up 54.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities analysts expect that Clarivate will post 0.74 earnings per share for the current year.

Several research analysts have recently commented on the company. TheStreet upgraded Clarivate from a d+ rating to a c rating in a report on Tuesday, May 31st. Zacks Investment Research raised Clarivate from a sell rating to a hold rating in a report on Tuesday, May 17th. The Goldman Sachs Group reduced their price objective on Clarivate from $23.00 to $20.00 and set a buy rating for the company in a research note on Tuesday, April 19th. Finally, Morgan Stanley cut their price target on Clarivate from $18.00 to $17.00 and set an overweight rating for the company in a research note on Thursday, May 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $19.17.

In other news, insider James Gordon Samson sold 58,000 shares of Clarivate stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $13.91, for a total transaction of $806,780.00. Following the transaction, the insider now owns 888,787 shares in the company, valued at approximately $12,363,027.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 124,000 shares of company stock valued at $1,745,360 over the last quarter. Corporate insiders own 24.88% of the company’s stock.

Several institutional investors have recently made changes to their positions in CLVT. NEXT Financial Group Inc boosted its holdings in shares of Clarivate by 135.1% in the 4th quarter. NEXT Financial Group Inc now owns 1,615 shares of the company’s stock worth $38,000 after purchasing an additional 928 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Clarivate in the 4th quarter worth approximately $83,000. Neo Ivy Capital Management purchased a new stake in shares of Clarivate in the 4th quarter worth approximately $111,000. Zions Bancorporation N.A. boosted its stake in Clarivate by 56.2% during the 1st quarter. Zions Bancorporation N.A. now owns 10,754 shares of the company’s stock valued at $180,000 after purchasing an additional 3,869 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new position in shares of Clarivate in the 1st quarter worth $191,000. Institutional investors own 90.87% of the company’s stock.

Clarivate Company Profile (Get Rating)

Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

Further Reading

Earnings History and Estimates for Clarivate (NYSE:CLVT)

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