Clearwater Paper (NYSE:CLW) Releases Quarterly Earnings Results, Misses Estimates By $0.84 EPS

Clearwater Paper (NYSE:CLW) released its earnings results on Thursday. The basic materials company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.84), Zacks reports. Clearwater Paper had a net margin of 0.74% and a return on equity of 4.35%.

Clearwater Paper Trading Up 1.1 %

Shares of CLW traded up $0.32 during mid-day trading on Thursday, hitting $29.00. 539,038 shares of the company’s stock traded hands, compared to its average volume of 296,043. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $480.52 million, a P/E ratio of 33.72 and a beta of 0.35. The business’s 50-day moving average price is $29.49 and its 200-day moving average price is $30.30. Clearwater Paper has a 1 year low of $23.97 and a 1 year high of $57.13.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CLW shares. StockNews.com cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper announced that its Board of Directors has authorized a share buyback program on Monday, November 4th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Clearwater Paper Company Profile

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.