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Clearfield (CLFD) Gains As Market Dips: What You Should Know

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Clearfield (CLFD - Free Report) closed at $103.94 in the latest trading session, marking a +1.99% move from the prior day. This move outpaced the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.15%, and the Nasdaq, a tech-heavy index, added 0.27%.

Coming into today, shares of the maker of fiber optic management products had gained 3.16% in the past month. In that same time, the Computer and Technology sector lost 4.49%, while the S&P 500 lost 3.51%.

Wall Street will be looking for positivity from Clearfield as it approaches its next earnings report date. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $69.3 million, up 53.18% from the year-ago period.

Investors should also note any recent changes to analyst estimates for Clearfield. 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.

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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Clearfield is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Clearfield is currently trading at a Forward P/E ratio of 28.31. This valuation marks a premium compared to its industry's average Forward P/E of 19.31.

The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% 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.

To follow CLFD in the coming trading sessions, be sure to utilize Zacks.com.


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