Clearfield (NASDAQ:CLFD) announced its quarterly earnings data on Thursday. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09, MarketWatch Earnings reports. Clearfield had a return on equity of 7.10% and a net margin of 4.96%. The business had revenue of $22.47 million during the quarter, compared to analyst estimates of $20.50 million.

Shares of NASDAQ:CLFD traded up $1.24 during midday trading on Friday, hitting $13.71. 110,773 shares of the stock were exchanged, compared to its average volume of 17,435. Clearfield has a 52-week low of $10.35 and a 52-week high of $15.30. The firm has a market cap of $170.75 million, a price-to-earnings ratio of 42.84 and a beta of 1.18.

Several large investors have recently made changes to their positions in CLFD. BlackRock Inc. raised its holdings in shares of Clearfield by 3.2% during the second quarter. BlackRock Inc. now owns 815,882 shares of the communications equipment provider’s stock worth $9,017,000 after acquiring an additional 25,107 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Clearfield by 11.7% during the first quarter. Royal Bank of Canada now owns 126,426 shares of the communications equipment provider’s stock worth $1,631,000 after acquiring an additional 13,275 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Clearfield during the third quarter worth $176,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Clearfield by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 55,338 shares of the communications equipment provider’s stock worth $612,000 after acquiring an additional 4,107 shares in the last quarter. Institutional investors and hedge funds own 29.19% of the company’s stock.

Several analysts recently issued reports on CLFD shares. Zacks Investment Research lowered Clearfield from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. ValuEngine upgraded Clearfield from a “sell” rating to a “hold” rating in a report on Saturday, July 28th.

ILLEGAL ACTIVITY WARNING: This story was first posted by Daily Political and is owned by of Daily Political. If you are viewing this story on another website, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this story can be read at https://www.dailypolitical.com/2018/11/10/clearfield-clfd-releases-quarterly-earnings-results-beats-expectations-by-0-09-eps.html.

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 Clearview cassette, a building block of the company's product platform; Clearview Classic and Clearview Blue, a system with five parts that nest together in the cassette's housing to support a range of applications; Clearview xPAK to land small port count fiber terminations and optical components; Clearview Black, which is designed to handle harsh environments; and fiber deep for cable-to-cable deployment, as well as packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform.

Further Reading: Insider Trading – What You Need to Know

Earnings History for Clearfield (NASDAQ:CLFD)

Receive News & Ratings for Clearfield Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearfield and related companies with MarketBeat.com's FREE daily email newsletter.