Clarivate (NYSE:CLVT – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.80-$0.90 for the period, compared to the consensus estimate of $0.89. The company issued revenue guidance of $2.70 billion-$2.76 billion, compared to the consensus revenue estimate of $2.79 billion.
Analyst Ratings Changes
Several equities analysts recently commented on CLVT shares. Royal Bank of Canada reduced their price objective on shares of Clarivate from $23.00 to $18.00 and set an outperform rating for the company in a research note on Friday, July 1st. Wells Fargo & Company assumed coverage on shares of Clarivate in a report on Tuesday, July 12th. They issued an overweight rating and a $20.00 price target on the stock. Morgan Stanley dropped their price objective on Clarivate from $17.00 to $16.00 and set an overweight rating for the company in a research note on Wednesday, August 10th. TheStreet upgraded Clarivate from a d+ rating to a c rating in a research note on Tuesday, May 31st. Finally, The Goldman Sachs Group dropped their price target on Clarivate from $23.00 to $20.00 and set a buy rating for the company in a research report on Tuesday, April 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $19.14.
Clarivate Stock Performance
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NYSE CLVT opened at $13.62 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50-day simple moving average is $13.93 and its two-hundred day simple moving average is $14.91. Clarivate has a twelve month low of $11.71 and a twelve month high of $26.73.
Clarivate (NYSE:CLVT – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $686.60 million for the quarter, compared to analysts’ expectations of $691.51 million. Clarivate had a return on equity of 5.47% and a net margin of 1.87%. As a group, equities research analysts predict that Clarivate will post 0.74 earnings per share for the current year.
Institutional Investors Weigh In On Clarivate
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Clarivate by 6.2% in the first quarter. BlackRock Inc. now owns 21,453,033 shares of the company’s stock worth $359,553,000 after purchasing an additional 1,252,886 shares during the last quarter. State Street Corp lifted its stake in shares of Clarivate by 10.0% in the 1st quarter. State Street Corp now owns 11,090,387 shares of the company’s stock valued at $185,875,000 after acquiring an additional 1,011,303 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Clarivate by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 7,557,142 shares of the company’s stock valued at $126,658,000 after acquiring an additional 428,314 shares during the period. Goldman Sachs Group Inc. grew its position in Clarivate by 3.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,328,324 shares of the company’s stock worth $106,062,000 after acquiring an additional 239,070 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Clarivate by 7.3% in the 1st quarter. Northern Trust Corp now owns 2,537,111 shares of the company’s stock worth $42,521,000 after purchasing an additional 171,680 shares during the period. Hedge funds and other institutional investors own 90.87% of the company’s stock.
Clarivate Company Profile
Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.
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