Clarivate (NYSE:CLVT – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $0.70-0.80 for the period, compared to the consensus EPS estimate of $0.74. The company issued revenue guidance of $2.57-2.67 billion, compared to the consensus revenue estimate of $2.62 billion. Clarivate also updated its FY 2024 guidance to 0.700-0.800 EPS.
Wall Street Analyst Weigh In
Several research firms recently commented on CLVT. Morgan Stanley cut their price target on Clarivate from $9.00 to $8.00 and set an equal weight rating for the company in a report on Wednesday, February 28th. Barclays dropped their target price on Clarivate from $7.00 to $6.00 and set an underweight rating for the company in a report on Wednesday, February 28th. Oppenheimer reduced their price target on Clarivate from $11.00 to $10.00 and set an outperform rating on the stock in a report on Wednesday, February 28th. Finally, Royal Bank of Canada dropped their price objective on shares of Clarivate from $10.00 to $8.00 and set a sector perform rating for the company in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $8.00.
Read Our Latest Research Report on CLVT
Clarivate Trading Down 9.6 %
Clarivate (NYSE:CLVT – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The business had revenue of $683.70 million for the quarter, compared to the consensus estimate of $687.80 million. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. As a group, equities analysts expect that Clarivate will post 0.62 earnings per share for the current year.
About Clarivate
Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.
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