CLARCOR Inc. (CLC) reported third quarter net income of $0.60 per share after the close Wednesday, down from $0.63 per share last year. The consensus estimate was for EPS of $0.69. Fourth quarter EPS is expected to be between $0.65 and $0.75, which is below the consensus estimate of $0.78. The company also reduced its full year EPS forecast to between $2.35 and $2.45, from previous expectations of $2.50 to $2.65. The consensus estimate is for EPS of $2.58.
CLARCOR gapped open sharply lower Thursday and gradually declined for the majority of the session. The stock closed down by 5.82 at $43.75 on above average volume. CLARCOR plunged to nearly a 10-month low.
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