Clarivate (CLVT) to Release Earnings on Wednesday

Clarivate (NYSE:CLVT) will likely be announcing its earnings results before the market opens on Wednesday, February 19th. Analysts expect the company to announce earnings of $0.20 per share and revenue of $660.13 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Clarivate Price Performance

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

Clarivate announced that its Board of Directors has approved a stock buyback plan on Monday, December 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Michael J. Angelakis purchased 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the acquisition, the director now directly owns 1,500,000 shares in the company, valued at approximately $7,665,000. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLVT. Royal Bank of Canada dropped their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Barclays cut their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Finally, William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Clarivate has an average rating of “Hold” and an average price target of $7.10.

Clarivate Company Profile

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.