Clearwater Paper (NYSE:CLW) Issues Quarterly Earnings Results

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

Clearwater Paper Trading Up 1.1 %

Shares of NYSE:CLW traded up $0.32 during trading hours on Thursday, hitting $29.00. 555,418 shares of the company’s stock traded hands, compared to its average volume of 300,394. Clearwater Paper has a 1 year low of $23.97 and a 1 year high of $57.13. The business has a fifty day moving average price of $29.49 and a 200-day moving average price of $30.30. The firm has a market capitalization of $480.52 million, a P/E ratio of 33.72 and a beta of 0.35. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.78 and a quick ratio of 1.13.

Wall Street Analyst Weigh In

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

Clearwater Paper declared that its Board of Directors has initiated a stock buyback plan on Monday, November 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to reacquire up to 23.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Clearwater Paper

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.