Clearfield Inc reports results for the quarter ended in June - Earnings Summary

Clearfield

01/08/2024 22:23

* Clearfield Inc  CLFD.OQ  reported a quarterly adjusted
loss of 4
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 33
cents.  The mean expectation of four analysts for the quarter
was for a loss of 34 cents per share. Wall Street expected
results to range from -37 cents to -33 cents per share.
    * Revenue fell 20.4% to $48.79 million from a year ago;
analysts
expected $42.13 million. 
    * Clearfield Inc's reported EPS for the quarter was a loss
of 4
cents​.
    * The company reported a quarterly loss of $447 thousand.
    * Clearfield Inc shares had risen by 12.6% this quarter and
gained 49.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 27.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
communications &
networking peer group is also "buy"

Wall Street's median 12-month price target for Clearfield Inc is
$41.00 
This summary was machine generated from LSEG data August 1 at
09:23 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.34          -0.04          Beat
 Mar. 31 2024      -0.52          -0.40          Beat
 Dec. 31 2023      -0.42          -0.35          Beat
 Sep. 30 2023      0.10           0.17           Beat