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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 $47.52 in the latest trading session, marking a -1.37% move from the prior day. This change lagged the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Prior to today's trading, shares of the maker of fiber optic management products had lost 21.95% over the past month. This has lagged the Computer and Technology sector's gain of 1.45% and the S&P 500's loss of 3.02% in that time.
Wall Street will be looking for positivity from Clearfield as it approaches its next earnings report date. In that report, analysts expect Clearfield to post earnings of $0.60 per share. This would mark a year-over-year decline of 9.09%. Our most recent consensus estimate is calling for quarterly revenue of $71.15 million, up 32.99% from the year-ago period.
CLFD's full-year Zacks Consensus Estimates are calling for earnings of $4.39 per share and revenue of $381.7 million. These results would represent year-over-year changes of +23.66% and +40.91%, respectively.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Clearfield currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Clearfield currently has a Forward P/E ratio of 10.98. For comparison, its industry has an average Forward P/E of 11.83, which means Clearfield is trading at a discount to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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 (CLFD) Dips More Than Broader Markets: What You Should Know
Clearfield (CLFD - Free Report) closed at $47.52 in the latest trading session, marking a -1.37% move from the prior day. This change lagged the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Prior to today's trading, shares of the maker of fiber optic management products had lost 21.95% over the past month. This has lagged the Computer and Technology sector's gain of 1.45% and the S&P 500's loss of 3.02% in that time.
Wall Street will be looking for positivity from Clearfield as it approaches its next earnings report date. In that report, analysts expect Clearfield to post earnings of $0.60 per share. This would mark a year-over-year decline of 9.09%. Our most recent consensus estimate is calling for quarterly revenue of $71.15 million, up 32.99% from the year-ago period.
CLFD's full-year Zacks Consensus Estimates are calling for earnings of $4.39 per share and revenue of $381.7 million. These results would represent year-over-year changes of +23.66% and +40.91%, respectively.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Clearfield currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Clearfield currently has a Forward P/E ratio of 10.98. For comparison, its industry has an average Forward P/E of 11.83, which means Clearfield is trading at a discount to the group.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.