Clarivate (NYSE:CLVT) Shares Down 4.9% - What's Next?

Key Points

• Clarivate shares fell 4.9% in mid-day trading, from a prior close of $2.34 to about $2.23; trading volume was 93% below its average.
• Analyst sentiment was mostly cautious: the average rating was “Reduce,” with a $2.65 average price target; one analyst rated it Buy, five Hold, and three Sell.
• Clarivate beat quarterly EPS estimates, reporting $0.21 versus $0.18 expected, but revenue of $481.6 million missed the $566.8 million consensus and fell 22.7% year over year.

Clarivate PLC (NYSE:CLVT - Get Free Report) fell 4.9% during mid-day trading on Monday. The stock traded as low as $2.20 and last traded at $2.2250. 429,116 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 5,995,883 shares. The stock had previously closed at $2.34.

Analyst Upgrades and Downgrades

CLVT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Clarivate in a research report on Monday, September 21st. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2.25 price objective on shares of Clarivate in a research report on Thursday. Citigroup decreased their price objective on shares of Clarivate from $2.80 to $2.50 and set a "neutral" rating for the company in a research note on Thursday, July 30th. William Blair cut shares of Clarivate to a "market perform" rating in a research report on Thursday, October 15th. Finally, The Goldman Sachs Group dropped their target price on shares of Clarivate from $2.60 to $2.30 and set a "neutral" rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average target price of $2.65.

Clarivate Trading Down 1.1%

The stock has a market capitalization of $1.48 billion, a PE ratio of -3.80 and a beta of 1.38. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $1.82 and a 200-day moving average price of $2.20.

Clarivate (NYSE:CLVT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. Clarivate had a negative net margin of 17.02% and a positive return on equity of 9.84%. The company had revenue of $481.60 million for the quarter, compared to the consensus estimate of $566.77 million. During the same period in the previous year, the firm earned $0.18 EPS. The firm's quarterly revenue was down 22.7% on a year-over-year basis. As a group, equities analysts forecast that Clarivate PLC will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Clarivate

A number of hedge funds have recently modified their holdings of CLVT. KBC Group NV bought a new stake in Clarivate in the 1st quarter valued at about $4,118,000. Empowered Funds LLC boosted its position in Clarivate by 418.6% during the first quarter. Empowered Funds LLC now owns 2,015,829 shares of the company's stock worth $5,100,000 after purchasing an additional 1,627,159 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Clarivate during the first quarter worth about $3,342,000. Amundi increased its stake in shares of Clarivate by 1,670.2% in the first quarter. Amundi now owns 558,992 shares of the company's stock worth $1,414,000 after purchasing an additional 527,414 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Clarivate by 10.3% in the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company's stock worth $13,972,000 after purchasing an additional 516,418 shares in the last quarter. Institutional investors own 85.72% of the company's stock.

Clarivate Company Profile

Clarivate Plc NYSE: CLVT provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company's products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.

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