Brokers Offer Predictions for Clearfield, Inc.’s Q4 2024 Earnings (NASDAQ:CLFD)

Clearfield, Inc. (NASDAQ:CLFD) – Investment analysts at Roth Capital dropped their Q4 2024 earnings estimates for shares of Clearfield in a report released on Wednesday, May 1st. Roth Capital analyst S. Searle now expects that the communications equipment provider will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.15. The consensus estimate for Clearfield’s current full-year earnings is ($1.03) per share. Roth Capital also issued estimates for Clearfield’s Q1 2025 earnings at $0.23 EPS and FY2025 earnings at $1.75 EPS.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC boosted their target price on shares of Clearfield from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday. Northland Securities upgraded shares of Clearfield from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $25.00 to $40.00 in a research report on Friday. Finally, Roth Mkm restated a “buy” rating and issued a $47.00 target price on shares of Clearfield in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Clearfield currently has a consensus rating of “Hold” and a consensus price target of $42.40.

Clearfield Trading Up 13.2 %

Shares of NASDAQ:CLFD opened at $36.13 on Thursday. The firm has a 50 day moving average of $29.81 and a 200-day moving average of $28.09. The stock has a market capitalization of $531.36 million, a PE ratio of 44.06 and a beta of 1.33. Clearfield has a 12 month low of $22.91 and a 12 month high of $50.82.

Clearfield (NASDAQ:CLFD) last issued its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.13. Clearfield had a net margin of 6.00% and a return on equity of 4.22%. The business had revenue of $36.90 million during the quarter, compared to analysts’ expectations of $31.25 million. During the same quarter in the previous year, the company earned $0.67 EPS. The business’s revenue was down 43.1% on a year-over-year basis.

Insider Activity at Clearfield

In related news, Chairman Ronald G. Roth purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average cost of $29.62 per share, with a total value of $59,240.00. Following the acquisition, the chairman now owns 1,259,796 shares of the company’s stock, valued at approximately $37,315,157.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearfield

Several hedge funds and other institutional investors have recently made changes to their positions in CLFD. Bank of New York Mellon Corp grew its holdings in shares of Clearfield by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 102,381 shares of the communications equipment provider’s stock valued at $2,934,000 after purchasing an additional 819 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Clearfield by 109.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,721 shares of the communications equipment provider’s stock worth $78,000 after acquiring an additional 1,423 shares during the last quarter. Barclays PLC grew its holdings in Clearfield by 69.6% during the 3rd quarter. Barclays PLC now owns 17,612 shares of the communications equipment provider’s stock worth $505,000 after acquiring an additional 7,226 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Clearfield by 61.5% during the 3rd quarter. New York State Common Retirement Fund now owns 17,813 shares of the communications equipment provider’s stock worth $511,000 after acquiring an additional 6,782 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Clearfield during the 3rd quarter worth approximately $120,000. 88.73% of the stock is owned by institutional investors.

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.