Clearfield Inc reports results for the quarter ended June 30 - Earnings Summary

• Clearfield Inc CLFD.OQ reported quarterly adjusted earnings of 11 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -4 cents. The mean expectation of four analysts for the quarter was for earnings of 5 cents per share. Wall Street expected results to range from 4 cents to 6 cents per share.

• Revenue rose 2.3% to $49.90 million from a year ago; analysts expected $47.58 million.

• Clearfield Inc's reported EPS for the quarter was 11 cents​.

• The company reported quarterly net income of $1.61 million.

• Clearfield Inc shares had risen by 1.2% this quarter and gained 41.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 187% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the communications & networking peer group is also "buy"

• Wall Street's median 12-month price target for Clearfield Inc is $45.00, about 2.4% above its last closing price of $43.94

This summary was machine generated from LSEG data August 6 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)