Clarivate (CLVT) Scheduled to Post Earnings on Wednesday

Clarivate (NYSE:CLVT) will be issuing its quarterly earnings data before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Clarivate has set its FY24 guidance at $0.70 to $0.80 EPS and its FY 2024 guidance at 0.700-0.800 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Clarivate (NYSE:CLVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. On average, analysts expect Clarivate to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Clarivate Stock Performance

Shares of CLVT opened at $6.53 on Wednesday. Clarivate has a 12-month low of $4.97 and a 12-month high of $9.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The company has a market cap of $4.36 billion, a PE ratio of -3.93 and a beta of 1.17. The stock has a 50-day moving average price of $6.68 and a 200-day moving average price of $6.33.

Insider Transactions at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the transaction, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the transaction, the insider now owns 976,583 shares in the company, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,646 shares of company stock worth $1,379,111. 22.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CLVT. Royal Bank of Canada dropped their target price on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Barclays cut their target price on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Clarivate currently has an average rating of “Hold” and a consensus target price of $7.58.

Clarivate Company Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.