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Clearfield (CLFD) Stock Moves -1.33%: What You Should Know
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In the latest trading session, Clearfield (CLFD - Free Report) closed at $87.26, marking a -1.33% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.08%. At the same time, the Dow lost 1.95%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the maker of fiber optic management products had lost 9.19% over the past month. This has lagged the Computer and Technology sector's loss of 0.81% and the S&P 500's gain of 5.29% in that time.
Investors will be hoping for strength from Clearfield as it approaches its next earnings release, which is expected to be November 17, 2022. On that day, Clearfield is projected to report earnings of $0.80 per share, which would represent year-over-year growth of 50.94%. Meanwhile, our latest consensus estimate is calling for revenue of $69.3 million, up 53.18% from the prior-year quarter.
Any recent changes to analyst estimates for Clearfield should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Clearfield is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Clearfield is holding a Forward P/E ratio of 24.57. This valuation marks a premium compared to its industry's average Forward P/E of 18.51.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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) Stock Moves -1.33%: What You Should Know
In the latest trading session, Clearfield (CLFD - Free Report) closed at $87.26, marking a -1.33% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.08%. At the same time, the Dow lost 1.95%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the maker of fiber optic management products had lost 9.19% over the past month. This has lagged the Computer and Technology sector's loss of 0.81% and the S&P 500's gain of 5.29% in that time.
Investors will be hoping for strength from Clearfield as it approaches its next earnings release, which is expected to be November 17, 2022. On that day, Clearfield is projected to report earnings of $0.80 per share, which would represent year-over-year growth of 50.94%. Meanwhile, our latest consensus estimate is calling for revenue of $69.3 million, up 53.18% from the prior-year quarter.
Any recent changes to analyst estimates for Clearfield should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Clearfield is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Clearfield is holding a Forward P/E ratio of 24.57. This valuation marks a premium compared to its industry's average Forward P/E of 18.51.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.