Yahoo Finance Clearfield (CLFD) Gains As Market Dips: What You Should Know
Clearfield (CLFD) closed the most recent trading day at $41.94, moving +1.21% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.38%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 10.47%.
Coming into today, shares of the maker of fiber optic management products had lost 6.54% in the past month. In that same time, the Computer and Technology sector lost 1.96%, while the S&P 500 gained 2.61%.
Wall Street will be looking for positivity from Clearfield as it approaches its next earnings report date. This is expected to be May 4, 2023. On that day, Clearfield is projected to report earnings of $0.56 per share, which would represent a year-over-year decline of 15.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $71.15 million, up 32.99% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.06 per share and revenue of $368.2 million, which would represent changes of +14.37% and +35.93%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Clearfield. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Within the past 30 days, our consensus EPS projection remained stagnant. Clearfield is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Clearfield is holding a Forward P/E ratio of 10.2. This valuation marks a discount compared to its industry's average Forward P/E of 13.4.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Clearfield, Inc. (CLFD) : Free Stock Analysis Report
