Weiss Ratings Reaffirms Sell (D-) Rating for Clarivate (NYSE:CLVT)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Clarivate (NYSE:CLVT), highlighting ongoing concerns regarding the company's performance.
• Clarivate's stock has a current average price target of $4.83, with a range of analyst ratings indicating a consensus rating of "Reduce."
• The company reported earnings of $0.18 per share for the last quarter, meeting expectations, but experienced a 4.4% decline in quarterly revenue compared to the previous year.

Clarivate (NYSE:CLVT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

A number of other analysts have also weighed in on CLVT. Wolfe Research assumed coverage on shares of Clarivate in a report on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Jefferies Financial Group assumed coverage on shares of Clarivate in a report on Friday, July 18th. They set a "hold" rating and a $4.50 target price for the company. Finally, Wall Street Zen lowered shares of Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Clarivate currently has a consensus rating of "Reduce" and an average price target of $4.83.

Clarivate Price Performance

CLVT traded up $0.03 during midday trading on Tuesday, reaching $3.66. 511,120 shares of the company's stock were exchanged, compared to its average volume of 5,245,185. Clarivate has a one year low of $3.04 and a one year high of $7.02. The business has a 50-day simple moving average of $4.09 and a two-hundred day simple moving average of $4.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -5.88 and a beta of 1.44.

Clarivate (NYSE:CLVT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $621.40 million during the quarter, compared to analysts' expectations of $587.17 million. Clarivate had a negative net margin of 17.33% and a positive return on equity of 8.65%. Clarivate's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. As a group, research analysts predict that Clarivate will post 0.63 EPS for the current year.

Hedge Funds Weigh In On Clarivate

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HG Vora Capital Management LLC acquired a new position in shares of Clarivate during the 1st quarter worth about $47,160,000. AustralianSuper Pty Ltd acquired a new position in shares of Clarivate during the 1st quarter worth about $39,593,000. Norges Bank acquired a new position in shares of Clarivate during the 2nd quarter worth about $19,273,000. Clarkston Capital Partners LLC boosted its stake in shares of Clarivate by 5.4% during the 1st quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company's stock worth $292,895,000 after buying an additional 3,794,083 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Clarivate by 506.9% in the 2nd quarter. Bank of America Corp DE now owns 2,870,668 shares of the company's stock valued at $12,344,000 after purchasing an additional 2,397,670 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

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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