Clarivate (NYSE:CLVT) Releases Earnings Results, Hits Estimates

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

Clarivate Stock Performance

Shares of Clarivate stock traded down $0.11 on Friday, hitting $4.57. 7,631,017 shares of the company’s stock traded hands, compared to its average volume of 3,869,349. The firm’s 50-day moving average price is $6.56 and its two-hundred day moving average price is $6.28. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. Clarivate has a one year low of $4.55 and a one year high of $9.60.

Insider Transactions at Clarivate

In other Clarivate news, insider Bar Veinstein sold 60,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the transaction, the insider now owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the sale, the insider now owns 916,583 shares in the company, valued at approximately $6,416,081. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,646 shares of company stock worth $1,379,111 in the last three months. Insiders own 22.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada cut their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday. Barclays reduced their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.25.

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.