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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 $97.03 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500's 0.33% loss on the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the maker of fiber optic management products had lost 2.68% in the past month. In that same time, the Computer and Technology sector lost 14.71%, while the S&P 500 lost 11.67%.
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, our latest consensus estimate is calling for revenue of $69.3 million, up 53.18% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Clearfield. 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. 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 currently a Zacks Rank #3 (Hold).
Digging into valuation, Clearfield currently has a Forward P/E ratio of 27.05. This valuation marks a premium compared to its industry's average Forward P/E of 19.4.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% 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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Clearfield (CLFD) Dips More Than Broader Markets: What You Should Know
Clearfield (CLFD - Free Report) closed at $97.03 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500's 0.33% loss on the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the maker of fiber optic management products had lost 2.68% in the past month. In that same time, the Computer and Technology sector lost 14.71%, while the S&P 500 lost 11.67%.
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, our latest consensus estimate is calling for revenue of $69.3 million, up 53.18% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Clearfield. 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. 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 currently a Zacks Rank #3 (Hold).
Digging into valuation, Clearfield currently has a Forward P/E ratio of 27.05. This valuation marks a premium compared to its industry's average Forward P/E of 19.4.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% 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.