Clarivate (CLVT) Expected to Announce Earnings on Wednesday

Clarivate (NYSE:CLVT) is anticipated to release its earnings data before the market opens on Wednesday, February 19th. Analysts expect Clarivate to post earnings of $0.20 per share and revenue of $660.13 million for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Clarivate Price Performance

Shares of CLVT opened at $4.89 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $3.47 billion, a PE ratio of -2.45 and a beta of 1.17. Clarivate has a twelve month low of $4.25 and a twelve month high of $9.60. The firm’s 50 day moving average price is $5.23 and its 200 day moving average price is $5.88.

Clarivate announced that its board has initiated a stock repurchase plan on Monday, December 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 12.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on CLVT. Barclays lowered their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada lowered their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Finally, William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.10.

Insider Transactions at Clarivate

In related news, Director Michael J. Angelakis bought 765,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the purchase, the director now directly owns 3,465,000 shares in the company, valued at $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.77% of the stock is currently owned by corporate insiders.

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.