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Clearfield (CLFD) Gains But Lags Market: What You Should Know
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In the latest trading session, Clearfield (CLFD - Free Report) closed at $103.26, marking a +0.77% move from the previous day. The stock lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.18%.
Heading into today, shares of the maker of fiber optic management products had lost 13.34% over the past month, lagging the Computer and Technology sector's loss of 4.33% and the S&P 500's loss of 1.14% in that time.
Investors will be hoping for strength from Clearfield as it approaches its next earnings release. The company is expected to report EPS of $0.80, up 50.94% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $69.3 million, up 53.18% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.13 per share and revenue of $246 million, which would represent changes of +112.93% and +74.77%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Clearfield. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Clearfield currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Clearfield is currently trading at a Forward P/E ratio of 32.74. This represents a premium compared to its industry's average Forward P/E of 20.05.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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.
To follow CLFD in the coming trading sessions, be sure to utilize Zacks.com.
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Clearfield (CLFD) Gains But Lags Market: What You Should Know
In the latest trading session, Clearfield (CLFD - Free Report) closed at $103.26, marking a +0.77% move from the previous day. The stock lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.18%.
Heading into today, shares of the maker of fiber optic management products had lost 13.34% over the past month, lagging the Computer and Technology sector's loss of 4.33% and the S&P 500's loss of 1.14% in that time.
Investors will be hoping for strength from Clearfield as it approaches its next earnings release. The company is expected to report EPS of $0.80, up 50.94% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $69.3 million, up 53.18% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.13 per share and revenue of $246 million, which would represent changes of +112.93% and +74.77%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Clearfield. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Clearfield currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Clearfield is currently trading at a Forward P/E ratio of 32.74. This represents a premium compared to its industry's average Forward P/E of 20.05.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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.
To follow CLFD in the coming trading sessions, be sure to utilize Zacks.com.