Clearwater Paper Corporation (NYSE:CLW) released its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.18, Bloomberg Earnings reports. Clearwater Paper Corporation had a net margin of 1.50% and a return on equity of 7.38%. The firm had revenue of $426.50 million during the quarter, compared to analyst estimates of $426.87 million. During the same period in the previous year, the business earned $0.14 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis.
Clearwater Paper Corporation (NYSE CLW) traded down 0.97% during mid-day trading on Friday, reaching $45.85. 156,845 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $46.26 and a 200-day moving average price of $46.84. The stock has a market capitalization of $753.45 million, a PE ratio of 29.56 and a beta of 1.05. Clearwater Paper Corporation has a 12-month low of $42.20 and a 12-month high of $68.40.
In related news, insider Michael S. Gadd sold 1,546 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $50.04, for a total value of $77,361.84. Following the sale, the insider now owns 17,464 shares of the company’s stock, valued at $873,898.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.41% of the stock is owned by company insiders.
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A number of analysts have recently issued reports on the stock. KeyCorp reaffirmed a “hold” rating on shares of Clearwater Paper Corporation in a report on Thursday, October 19th. BidaskClub downgraded shares of Clearwater Paper Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Royal Bank Of Canada dropped their price objective on shares of Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Clearwater Paper Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $64.00.
Clearwater Paper Corporation Company Profile
Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.
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