BMO Capital Reiterates Their Hold Rating on Clearwater Seafoods

By Carrie Williams

Clearwater Seafoods (TSX: CLR), the Services sector company was revisited yesterday, yet the Wall Street analyst remains currently on the sidelines. The company received a Hold rating from BMO Capital’s analyst Jonathan Lamers, with a C$11 price target.

According to TipRanks.com, Lamers is ranked #2027 out of 4642 analysts.

Clearwater Seafoods has an analyst consensus of Moderate Buy, with a price target consensus of C$12.25.

Based on Clearwater Seafoods’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$154 million and quarterly net profit of C$9.49 million. In comparison, last year the company earned revenue of C$140 million and had a net profit of C$9.96 million.

Clearwater Seafoods, Inc. is a vertically-integrated seafood company. The company processes and distributes premium seafood. It delivers premium wild, eco-certified seafood, including scallops, lobster, clams, coldwater shrimp crab and groundfish. The company was founded by John C. Risley and Colin E. MacDonald in 1976 and is headquartered in Bedford, Canada.

The company’s shares closed on Friday at C$10.30, close to its 52-week low of C$9.85.