Yahoo Finance Clearfield (CLFD) Dips More Than Broader Markets: What You Should Know
Clearfield (CLFD) closed at $40.19 in the latest trading session, marking a -1.18% move from the prior day. This change lagged the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 1.54%.
Coming into today, shares of the maker of fiber optic management products had gained 15.31% in the past month. In that same time, the Computer and Technology sector gained 12.17%, while the S&P 500 gained 4.14%.
Wall Street will be looking for positivity from Clearfield as it approaches its next earnings report date. The company is expected to report EPS of $0.09, down 90.22% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $54.35 million, down 23.72% from the year-ago period.
CLFD's full-year Zacks Consensus Estimates are calling for earnings of $1.81 per share and revenue of $267.1 million. These results would represent year-over-year changes of -49.01% and -1.4%, respectively.
Any recent changes to analyst estimates for Clearfield should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 54.18% lower within the past month. Clearfield is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Clearfield is holding a Forward P/E ratio of 22.47. This represents a premium compared to its industry's average Forward P/E of 14.03.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Clearfield, Inc. (CLFD) : Free Stock Analysis Report
