Clarus Corporation (NASDAQ:CLAR) Announces Quarterly Dividend of $0.03

Key Points

• Clarus declared a quarterly dividend of $0.025 per share ($0.10 annualized, with a stated 2.3% yield). Shareholders of record on November 16 are scheduled to receive payment on November 25.
• The company’s current payout ratio is -66.7%, indicating earnings do not currently cover the dividend. Analysts expect next year’s earnings to support it, with a projected payout ratio of 71.4%.
• Clarus reported quarterly earnings of $0.18 per share, beating analysts’ estimate of a $0.07 loss, and revenue of $56.16 million versus expectations of $51.54 million.

Clarus Corporation (NASDAQ:CLAR - Get Free Report) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Monday, November 16th will be given a dividend of $0.0250 per share on Wednesday, November 25th. This represents a $0.10 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, November 16th.

Clarus has a payout ratio of -66.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Clarus to earn $0.14 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 71.4%.

Clarus Price Performance

Shares of NASDAQ CLAR opened at $4.38 on Thursday. The company has a 50 day simple moving average of $3.70 and a 200 day simple moving average of $3.28. The firm has a market cap of $168.33 million, a PE ratio of -5.34 and a beta of 1.03. Clarus has a 1 year low of $2.53 and a 1 year high of $4.70.

Clarus (NASDAQ:CLAR - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.25. Clarus had a negative net margin of 12.44% and a positive return on equity of 4.35%. The firm had revenue of $56.16 million for the quarter, compared to analyst estimates of $51.54 million. As a group, research analysts anticipate that Clarus will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Clarus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLAR. BlackRock Inc. acquired a new stake in shares of Clarus during the second quarter worth $1,454,000. Gamco Investors INC. ET AL raised its stake in Clarus by 11.1% during the first quarter. Gamco Investors INC. ET AL now owns 350,000 shares of the company's stock worth $952,000 after buying an additional 35,000 shares during the last quarter. GSA Capital Partners LLP bought a new position in Clarus during the second quarter worth $652,000. Bank of New York Mellon Corp acquired a new position in Clarus in the second quarter valued at $557,000. Finally, Squarepoint Ops LLC lifted its holdings in Clarus by 88.8% in the second quarter. Squarepoint Ops LLC now owns 127,426 shares of the company's stock valued at $401,000 after buying an additional 59,922 shares during the period. Institutional investors and hedge funds own 90.30% of the company's stock.

Clarus Company Profile

Clarus Corporation NASDAQ: CLAR is an outdoor equipment and lifestyle products company headquartered in Salt Lake City, Utah. The company develops, manufactures and markets products for climbing, mountaineering, skiing, camping, overlanding and other outdoor activities.

Clarus's portfolio includes Black Diamond Equipment, which offers climbing and mountaineering gear, skis, ski equipment, apparel and accessories. The company also owns Rhino-Rack, a provider of vehicle-based storage and transportation systems, and MAXTRAX, which makes vehicle recovery boards and related off-road products.

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