ClearOne, Inc. (NASDAQ:CLRO) Releases Earnings Results, Misses Expectations By $0.07 EPS
ClearOne, Inc. (NASDAQ:CLRO) announced its quarterly earnings data on Wednesday. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.07, Morningstar.com reports. ClearOne had a negative net margin of 2.56% and a positive return on equity of 1.80%. The business had revenue of $10.31 million for the quarter, compared to the consensus estimate of $12.01 million.
ClearOne (CLRO) traded up 0.65% on Friday, reaching $7.80. 10,890 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $9.55 and a 200-day moving average of $10.35. ClearOne has a 12 month low of $7.35 and a 12 month high of $12.60. The firm’s market capitalization is $66.67 million.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Friday, August 18th. ClearOne’s payout ratio is -215.38%.
A number of equities research analysts recently weighed in on CLRO shares. B. Riley reaffirmed a “buy” rating and set a $12.50 price objective on shares of ClearOne in a research report on Tuesday, May 16th. Zacks Investment Research raised shares of ClearOne from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
In other news, major shareholder Edward D. Bagley bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $7.85 per share, for a total transaction of $78,500.00. Following the transaction, the insider now directly owns 1,839,877 shares of the company’s stock, valued at approximately $14,443,034.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.51% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Hancock Holding Co. purchased a new stake in shares of ClearOne during the first quarter worth about $166,000. Wellington Management Group LLP boosted its stake in shares of ClearOne by 0.8% in the first quarter. Wellington Management Group LLP now owns 900,276 shares of the communications equipment provider’s stock worth $8,913,000 after buying an additional 7,320 shares during the period. FMR LLC boosted its stake in shares of ClearOne by 5.6% in the fourth quarter. FMR LLC now owns 266,000 shares of the communications equipment provider’s stock worth $3,032,000 after buying an additional 14,000 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of ClearOne by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 167,800 shares of the communications equipment provider’s stock worth $1,913,000 after buying an additional 11,300 shares during the period. Institutional investors and hedge funds own 19.65% 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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