Clarivate (NYSE:CLVT - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19, Briefing.com reports. The company had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.99%. Clarivate's quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share.
Clarivate Stock Down 2.4 %
CLVT stock traded down $0.11 during trading on Friday, reaching $4.57. 7,631,017 shares of the company were exchanged, compared to its average volume of 3,869,349. Clarivate has a 52-week low of $4.55 and a 52-week high of $9.60. The stock's 50 day moving average price is $6.56 and its 200 day moving average price is $6.28. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on CLVT. Royal Bank of Canada dropped their price target on shares of Clarivate from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research note on Thursday. William Blair lowered shares of Clarivate from an "outperform" rating to a "market perform" rating in a research note on Wednesday. Finally, Barclays dropped their price target on shares of Clarivate from $5.00 to $4.00 and set an "underweight" rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.25.
Read Our Latest Stock Report on Clarivate
Insider Buying and Selling
In related news, insider Bar Veinstein sold 120,000 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now owns 976,583 shares of the company's stock, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Bar Veinstein sold 120,000 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now owns 976,583 shares of the company's stock, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Saurabh Saha sold 17,646 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares in the company, valued at $160,251.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,646 shares of company stock valued at $1,379,111. Corporate insiders own 22.77% of the company's stock.
About Clarivate
(
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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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