Clearwater Paper (CLW) Bonds Drop 1.6% During Trading

An issue of Clearwater Paper Corp (NYSE:CLW) debt fell 1.6% against its face value during trading on Friday. The debt issue has a 4.5% coupon and is set to mature on February 1, 2023. The debt is now trading at $96.16 and was trading at $97.25 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.

A number of brokerages recently commented on CLW. Royal Bank of Canada reduced their price target on Clearwater Paper from $47.00 to $43.00 and set a “sector perform” rating for the company in a report on Tuesday, February 6th. Zacks Investment Research raised Clearwater Paper from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $51.50.

Clearwater Paper Corp (CLW) opened at $37.05 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.45 and a debt-to-equity ratio of 0.99. Clearwater Paper Corp has a 1-year low of $33.80 and a 1-year high of $59.95. The company has a market capitalization of $608.84, a P/E ratio of 6.32, a price-to-earnings-growth ratio of 2.32 and a beta of 0.91.

Clearwater Paper (NYSE:CLW) last released its earnings results on Monday, February 5th. The basic materials company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Clearwater Paper had a return on equity of 7.12% and a net margin of 5.63%. The firm had revenue of $436.70 million for the quarter, compared to the consensus estimate of $431.04 million. During the same period in the prior year, the business earned $0.82 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. sell-side analysts expect that Clearwater Paper Corp will post 3.2 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in Clearwater Paper by 17.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,861 shares of the basic materials company’s stock worth $134,000 after buying an additional 420 shares during the last quarter. SG Americas Securities LLC bought a new position in Clearwater Paper during the 3rd quarter worth approximately $182,000. Cambridge Investment Research Advisors Inc. bought a new position in Clearwater Paper during the 3rd quarter worth approximately $204,000. Crossmark Global Holdings Inc. bought a new position in Clearwater Paper during the 3rd quarter worth approximately $256,000. Finally, Teacher Retirement System of Texas bought a new position in Clearwater Paper during the 4th quarter worth approximately $256,000. 85.16% of the stock is currently owned by institutional investors.

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Clearwater Paper 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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