ClearOne Inc. Forecasted to Earn Q4 2016 Earnings of $0.13 Per Share (CLRO)
ClearOne Inc. (NASDAQ:CLRO) – B. Riley decreased their Q4 2016 EPS estimates for shares of ClearOne in a research note issued to investors on Wednesday. B. Riley analyst I. Corydon now forecasts that the brokerage will earn $0.13 per share for the quarter, down from their previous estimate of $0.20. B. Riley has a “Buy” rating and a $12.50 price objective on the stock. B. Riley also issued estimates for ClearOne’s Q1 2017 earnings at $0.12 EPS, Q2 2017 earnings at $0.14 EPS and Q3 2017 earnings at $0.22 EPS.
ClearOne (NASDAQ:CLRO) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. ClearOne had a return on equity of 8.54% and a net margin of 9.78%. The company earned $12.90 million during the quarter, compared to the consensus estimate of $13.76 million.
A number of other research firms have also weighed in on CLRO. TheStreet lowered ClearOne from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Singular Research assumed coverage on ClearOne in a report on Wednesday, September 7th. They set a “buy” rating and a $14.50 target price for the company. Finally, Zacks Investment Research lowered ClearOne from a “buy” rating to a “hold” rating in a report on Thursday, August 11th.
ClearOne (NASDAQ:CLRO) opened at 11.00 on Friday. The firm has a market cap of $98.67 million, a P/E ratio of 16.64 and a beta of 1.26. ClearOne has a 1-year low of $9.51 and a 1-year high of $13.45. The stock has a 50 day moving average price of $11.00 and a 200 day moving average price of $11.11.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.82%. ClearOne’s dividend payout ratio (DPR) is presently 37.74%.
Hedge funds have recently modified their holdings of the stock. Morgan Stanley increased its stake in shares of ClearOne by 373.8% in the third quarter. Morgan Stanley now owns 9,475 shares of the company’s stock worth $106,000 after buying an additional 7,475 shares during the period. Northern Trust Corp increased its stake in shares of ClearOne by 1.9% in the third quarter. Northern Trust Corp now owns 10,591 shares of the company’s stock worth $119,000 after buying an additional 202 shares during the period. Vanguard Group Inc. increased its stake in shares of ClearOne by 0.4% in the second quarter. Vanguard Group Inc. now owns 137,333 shares of the company’s stock worth $1,538,000 after buying an additional 503 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of ClearOne by 17.7% in the first quarter. Wellington Management Group LLP now owns 705,956 shares of the company’s stock worth $8,189,000 after buying an additional 105,942 shares during the period. Hedge funds and other institutional investors own 18.62% of the company’s stock.
ClearOne, Inc (ClearOne) is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for audio/voice and visual communications. The Company designs, develops, markets and services a line of conferencing products for personal use, as well as traditional tabletop, mid-tier professional products for large, medium and small businesses.
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