Clarivate Plc [NYSE: CLVT] gained 1.96% or 0.51 points to close at $26.52 with a heavy trading volume of 12863018 shares. The company report on June 11, 2021 that Clarivate Announces Pricing of Offering of $1.0 Billion Senior Secured Notes and $1.0 Billion Senior Notes.
Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced the pricing of its previously announced private offering (the “Offering”) of $1.0 billion of 3.875% senior secured notes due 2028 (the “Secured Notes”) and $1.0 billion of 4.875% senior notes due 2029 (the “Unsecured Notes” and, together with the Secured Notes, the “Notes”). Interest on the Notes will be payable semi-annually on June 30 and December 30 of each year, beginning on December 30, 2021. The Secured Notes will mature on June 30, 2028 and the Unsecured Notes will mature on June 30, 2029. The Notes will be issued by Clarivate Science Holdings Corporation (the “Issuer”), an indirect wholly-owned subsidiary of Clarivate, on June 24, 2021, subject to customary closing conditions.
Clarivate intends to use the net proceeds from the Offering, together with the net proceeds of its previously announced equity offerings and cash on hand, to finance the purchase price for its pending acquisition of ProQuest announced on May 17, 2021 (the “Acquisition”), and to pay related fees and expenses.
It opened the trading session at $26.06, the shares rose to $26.52 and dropped to $26.00, the range by which the price of stock traded the whole day. The daily chart for CLVT points out that the company has recorded -8.24% loss over the past six months. However, it is still -27.38% lower than its most recent low trading price.
If we look at the average trading volume of 3.38M shares, CLVT reached to a volume of 12863018 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Clarivate Plc [CLVT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLVT shares is $33.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLVT stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Clarivate Plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 31, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on March 11, 2021, representing the official price target for Clarivate Plc stock. Previously, the target price had yet another raise to $28, while Morgan Stanley analysts kept a Overweight rating on CLVT stock.
The Average True Range (ATR) for Clarivate Plc is set at 1.35, with the Price to Sales ratio for CLVT stock in the period of the last 12 months amounting to 11.04. The Price to Book ratio for the last quarter was 1.72, with the Price to Cash per share for the same quarter was set at 0.66. Price to Free Cash Flow for CLVT in the course of the last twelve months was 58.91 with Quick ratio for the last quarter at 1.00.
Trading performance analysis for CLVT stock
Clarivate Plc [CLVT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.54. With this latest performance, CLVT shares dropped by -5.12% in over the last four-week period, additionally sinking by -8.24% over the last 6 months – not to mention a rise of 19.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLVT stock in for the last two-week period is set at 39.69, with the RSI for the last a single of trading hit 34.65, and the three-weeks RSI is set at 43.18 for Clarivate Plc [CLVT]. The present Moving Average for the last 50 days of trading for this stock 27.82, while it was recorded at 29.05 for the last single week of trading, and 28.35 for the last 200 days.
Clarivate Plc [CLVT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Clarivate Plc [CLVT] shares currently have an operating margin of -0.16 and a Gross Margin at +41.59. Clarivate Plc’s Net Margin is presently recorded at -24.87.
Return on Total Capital for CLVT is now -0.02, given the latest momentum, and Return on Invested Capital for the company is -3.92. Return on Equity for this stock declined to -5.86, with Return on Assets sitting at -3.28. When it comes to the capital structure of this company, Clarivate Plc [CLVT] has a Total Debt to Total Equity ratio set at 39.07. Additionally, CLVT Total Debt to Total Capital is recorded at 28.10, with Total Debt to Total Assets ending up at 23.86. Long-Term Debt to Equity for the company is recorded at 38.38, with the Long-Term Debt to Total Capital now at 27.60.
Reflecting on the efficiency of the workforce at the company, Clarivate Plc [CLVT] managed to generate an average of -$35,888 per employee. Receivables Turnover for the company is 2.34 with a Total Asset Turnover recorded at a value of 0.13.Clarivate Plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
Clarivate Plc [CLVT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Clarivate Plc posted 0.18/share EPS, while the average EPS was predicted by analysts to be reported at 0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 28.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CLVT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Clarivate Plc go to 21.50%.
An analysis of insider ownership at Clarivate Plc [CLVT]
There are presently around $10,463 million, or 77.90% of CLVT stock, in the hands of institutional investors. The top three institutional holders of CLVT stocks are: LEONARD GREEN & PARTNERS, L.P. with ownership of 116,666,507, which is approximately 0.692% of the company’s market cap and around 1.30% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 74,061,271 shares of the stock with an approximate value of $1.96 billion in CLVT stocks shares; and SELECT EQUITY GROUP, L.P., currently with $1.27 billion in CLVT stock with ownership of nearly 28.277% of the company’s market capitalization.
Positions in Clarivate Plc stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 130 institutional holders increased their position in Clarivate Plc [NYSE:CLVT] by around 50,983,020 shares. Additionally, 95 investors decreased positions by around 39,429,001 shares, while 16 investors held positions by with 304,105,125 shares. The mentioned changes placed institutional holdings at 394,517,146 shares, according to the latest SEC report filing. CLVT stock had 51 new institutional investments in for a total of 6,104,053 shares, while 52 institutional investors sold positions of 9,363,561 shares during the same period.