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Clearfield (CLFD) Stock Moves -1.08%: What You Should Know

Clearfield (CLFD) closed the most recent trading day at $93.15, moving -1.08% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.17%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 2.45%.

Coming into today, shares of the maker of fiber optic management products had lost 9.02% in the past month. In that same time, the Computer and Technology sector lost 8.27%, while the S&P 500 lost 5.25%.

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 $1.02 per share. This would mark year-over-year growth of 36%. Meanwhile, our latest consensus estimate is calling for revenue of $85 million, up 66.31% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.95 per share and revenue of $386.5 million, which would represent changes of +39.44% and +42.68%, respectively, from the prior year.

Any recent changes to analyst estimates for Clearfield should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 currently has a Zacks Rank of #1 (Strong Buy).

Investors should also note Clearfield's current valuation metrics, including its Forward P/E ratio of 19.02. This represents a premium compared to its industry's average Forward P/E of 16.73.

The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Clearfield, Inc. (CLFD) : Free Stock Analysis Report

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