Clarivate (NYSE:CLVT) Posts Quarterly Earnings Results, Meets Expectations

by · The Markets Daily

Clarivate (NYSE:CLVT – Get Free Report) released its earnings results on Wednesday. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19, Briefing.com reports. The company had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $640.81 million. Clarivate had a positive return on equity of 9.99% and a negative net margin of 50.00%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS.

Clarivate Stock Performance

Shares of Clarivate stock traded down $0.11 during trading hours on Friday, reaching $4.57. The company had a trading volume of 7,631,017 shares, compared to its average volume of 3,869,349. Clarivate has a one year low of $4.55 and a one year high of $9.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day simple moving average of $6.56 and a 200 day simple moving average of $6.28.

Wall Street Analyst Weigh In

Several brokerages have commented on CLVT. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Barclays dropped their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada decreased their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.25.

View Our Latest Stock Report on CLVT

Insider Activity at Clarivate

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

About Clarivate

(Get Free Report)

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.

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