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Clearfield (CLFD) Dips More Than Broader Markets: What You Should Know
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Clearfield (CLFD - Free Report) closed at $60.33 in the latest trading session, marking a -1.87% move from the prior day. This move lagged the S&P 500's daily loss of 0.27%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Coming into today, shares of the maker of fiber optic management products had gained 0.28% in the past month. In that same time, the Computer and Technology sector gained 7.53%, while the S&P 500 gained 7.36%.
Clearfield will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.57, up 111.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $47 million, up 58.3% from the prior-year quarter.
CLFD's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $185.9 million. These results would represent year-over-year changes of +51.7% and +32.07%, respectively.
It is also important to note the recent changes to analyst estimates for Clearfield. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Clearfield currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Clearfield is currently trading at a Forward P/E ratio of 27.57. Its industry sports an average Forward P/E of 21.22, so we one might conclude that Clearfield is trading at a premium comparatively.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Clearfield (CLFD) Dips More Than Broader Markets: What You Should Know
Clearfield (CLFD - Free Report) closed at $60.33 in the latest trading session, marking a -1.87% move from the prior day. This move lagged the S&P 500's daily loss of 0.27%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Coming into today, shares of the maker of fiber optic management products had gained 0.28% in the past month. In that same time, the Computer and Technology sector gained 7.53%, while the S&P 500 gained 7.36%.
Clearfield will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.57, up 111.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $47 million, up 58.3% from the prior-year quarter.
CLFD's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $185.9 million. These results would represent year-over-year changes of +51.7% and +32.07%, respectively.
It is also important to note the recent changes to analyst estimates for Clearfield. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Clearfield currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Clearfield is currently trading at a Forward P/E ratio of 27.57. Its industry sports an average Forward P/E of 21.22, so we one might conclude that Clearfield is trading at a premium comparatively.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.