Stock Repurchase Plan Declared by Clearwater Paper (NYSE:CLW)

Clearwater Paper (NYSE:CLW) announced that its board has initiated a share repurchase plan on Monday, November 4th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CLW has been the subject of several research analyst reports. Royal Bank of Canada raised shares of Clearwater Paper from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from $48.00 to $37.00 in a report on Friday, October 18th. StockNews.com cut Clearwater Paper from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

Clearwater Paper Stock Performance

CLW traded down $0.66 during trading on Monday, hitting $25.22. The stock had a trading volume of 855,163 shares, compared to its average volume of 238,807. The firm has a market cap of $419.46 million, a PE ratio of 9.42 and a beta of 0.34. The company has a current ratio of 1.73, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73. Clearwater Paper has a 12 month low of $24.51 and a 12 month high of $57.13. The company has a 50 day simple moving average of $28.88 and a 200-day simple moving average of $40.55.

Clearwater Paper (NYSE:CLW) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share for the quarter. The business had revenue of $586.40 million for the quarter. Clearwater Paper had a return on equity of 11.56% and a net margin of 2.16%.

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.