Clarcor Inc. to Post FY2017 Earnings of $2.75 Per Share, Gabelli Forecasts (CLC)
Clarcor Inc. (NYSE:CLC) – Gabelli reduced their FY2017 earnings estimates for shares of Clarcor in a research report issued to clients and investors on Friday. Gabelli analyst B. Sponheimer now forecasts that the firm will earn $2.75 per share for the year, down from their prior estimate of $2.85. Gabelli also issued estimates for Clarcor’s FY2018 earnings at $2.90 EPS and FY2019 earnings at $3.25 EPS.
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Clarcor from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. CL King restated a “neutral” rating on shares of Clarcor in a research report on Wednesday, June 8th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Clarcor in a research report on Thursday, June 16th. Finally, Robert W. Baird raised their price objective on shares of Clarcor from $61.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Clarcor presently has an average rating of “Hold” and a consensus target price of $68.50.
Shares of Clarcor (NYSE:CLC) traded up 1.21% during trading on Monday, hitting $63.53. The stock had a trading volume of 48,172 shares. Clarcor has a 12-month low of $44.13 and a 12-month high of $66.59. The stock’s 50-day moving average is $63.73 and its 200-day moving average is $59.79. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 21.76 and a beta of 1.18.
Clarcor (NYSE:CLC) last issued its quarterly earnings data on Wednesday, September 14th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.04. The business earned $331.40 million during the quarter, compared to analysts’ expectations of $339.43 million. Clarcor had a return on equity of 11.60% and a net margin of 10.35%. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS.
In other news, CFO David Joseph Fallon sold 25,000 shares of Clarcor stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $62.14, for a total transaction of $1,553,500.00. Following the completion of the sale, the chief financial officer now directly owns 28,217 shares in the company, valued at approximately $1,753,404.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert J. Burgstahler sold 7,500 shares of Clarcor stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $62.00, for a total transaction of $465,000.00. Following the sale, the director now owns 33,953 shares of the company’s stock, valued at $2,105,086. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.
Several large investors have recently bought and sold shares of CLC. Mason Street Advisors LLC bought a new stake in Clarcor during the second quarter worth about $1,345,000. Public Employees Retirement System of Ohio boosted its position in shares of Clarcor by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 55,068 shares of the company’s stock worth $3,350,000 after buying an additional 158 shares during the period. Calvert Investment Management Inc. acquired a new position in shares of Clarcor during the second quarter worth $231,000. Schwab Charles Investment Management Inc. boosted its position in shares of Clarcor by 4.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 282,808 shares of the company’s stock worth $17,204,000 after buying an additional 11,958 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Clarcor by 4.5% in the second quarter. Amalgamated Bank now owns 5,760 shares of the company’s stock worth $364,000 after buying an additional 246 shares during the period. Institutional investors own 90.30% of the company’s stock.
CLARCOR Inc provides filtration products, filtration systems and services, and consumer and industrial packaging products. The Company’s segments include Engine/Mobile Filtration and Industrial/Environmental Filtration. Its Engine/Mobile Filtration segment manufactures and sells filtration products for on-road and off-road mobile and stationary applications, including trucks, agricultural machinery, transit buses, locomotives, and other industrial and specialty applications.
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