Clarivate (NYSE:CLVT) Issues Earnings Results

Key Points

• Clarivate reported quarterly earnings of $0.18 per share, surpassing analysts' expectations of $0.16, and generated $623.10 million in revenue, exceeding the anticipated $570.35 million.
• The company's stock has faced a decline of 7.8%, trading at $3.22, with its 50-day moving average at $3.97 and a market capitalization of $2.16 billion.
• Analysts have mixed views on Clarivate, with Goldman Sachs setting a target price of $4.20 and Weiss Ratings issuing a "sell" rating; the average target price stands at $4.68.

Clarivate (NYSE:CLVT - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02, Briefing.com reports. The company had revenue of $623.10 million for the quarter, compared to the consensus estimate of $570.35 million. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The company's quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. Clarivate updated its FY 2025 guidance to 0.600-0.700 EPS.

Clarivate Trading Down 7.8%

Shares of Clarivate stock traded down $0.27 on Thursday, hitting $3.22. 4,361,372 shares of the company's stock traded hands, compared to its average volume of 5,150,135. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.91 and a quick ratio of 0.91. Clarivate has a one year low of $3.04 and a one year high of $6.72. The firm's 50-day moving average price is $3.97 and its two-hundred day moving average price is $4.09. The stock has a market capitalization of $2.16 billion, a PE ratio of -5.20 and a beta of 1.44.

Hedge Funds Weigh In On Clarivate

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in Clarivate by 4.3% during the 2nd quarter. Hsbc Holdings PLC now owns 116,648 shares of the company's stock worth $500,000 after purchasing an additional 4,792 shares in the last quarter. California State Teachers Retirement System lifted its position in Clarivate by 0.9% during the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company's stock worth $1,304,000 after acquiring an additional 2,788 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Clarivate during the second quarter worth approximately $1,522,000. SkyView Investment Advisors LLC lifted its position in Clarivate by 4.3% during the second quarter. SkyView Investment Advisors LLC now owns 396,566 shares of the company's stock worth $1,709,000 after acquiring an additional 16,227 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Clarivate by 37.0% during the first quarter. AQR Capital Management LLC now owns 451,872 shares of the company's stock worth $1,749,000 after acquiring an additional 122,099 shares during the last quarter. Institutional investors own 85.72% of the company's stock.

Wall Street Analyst Weigh In

CLVT has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Clarivate in a report on Wednesday, September 3rd. They set a "peer perform" rating on the stock. The Goldman Sachs Group set a $4.20 target price on shares of Clarivate in a research note on Thursday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Clarivate in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group began coverage on shares of Clarivate in a research note on Friday, July 18th. They issued a "hold" rating and a $4.50 target price for the company. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Clarivate presently has an average rating of "Reduce" and an average target price of $4.68.

About Clarivate

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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