Clearwater Paper Corporation (CLW) Receives Hold Rating from KeyCorp
“We are again reducing our estimates for Clearwater Paper (CLW) following its recent negative pre-announcement. We expect some of the pressures that plagued the Company in 3Q17 (pulp and transportation prices are going up and tissue market conditions are quite challenging, among other factors) to persist in 4Q, such that we are significantly reducing our estimates for both quarters. We are reducing our 2018 estimates for the same reason. On our revised estimates, CLW will not be in compliance with its debt covenants beginning in 4Q17. Key Investment Points We are reducing our 3Q17 adj. EBITDA estimate from $43M to $35M and our 4Q17 estimate from $58M to $51M, such that our 2017 estimate is going from $196M to $180M.”,” KeyCorp’s analyst wrote.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Clearwater Paper Corporation from a buy rating to a hold rating in a research report on Tuesday, August 8th. Royal Bank Of Canada dropped their price target on Clearwater Paper Corporation from $63.00 to $60.00 and set a sector perform rating on the stock in a research report on Friday, August 4th. Finally, BidaskClub cut Clearwater Paper Corporation from a hold rating to a sell rating in a research report on Saturday, July 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $64.00.
Clearwater Paper Corporation (CLW) traded down 0.78% during mid-day trading on Thursday, reaching $44.40. The company’s stock had a trading volume of 134,670 shares. The firm has a market cap of $729.63 million, a PE ratio of 28.63 and a beta of 1.05. Clearwater Paper Corporation has a one year low of $43.60 and a one year high of $68.40. The stock’s 50 day moving average is $46.60 and its 200 day moving average is $47.77.
Clearwater Paper Corporation (NYSE:CLW) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.08. The firm had revenue of $429.70 million for the quarter, compared to analysts’ expectations of $439.33 million. Clearwater Paper Corporation had a return on equity of 7.74% and a net margin of 1.49%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 EPS. On average, analysts anticipate that Clearwater Paper Corporation will post $2.30 EPS for the current year.
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In other Clearwater Paper Corporation news, insider Michael S. Gadd sold 1,546 shares of Clearwater Paper Corporation stock in a transaction that occurred on Monday, July 31st. The stock was 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 approximately $873,898.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael S. Gadd sold 877 shares of Clearwater Paper Corporation stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $50.01, for a total value of $43,858.77. Following the completion of the sale, the insider now directly owns 19,010 shares in the company, valued at approximately $950,690.10. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CLW. Riverhead Capital Management LLC boosted its holdings in Clearwater Paper Corporation by 80.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,164 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 964 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Clearwater Paper Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,539 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 380 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Clearwater Paper Corporation by 17.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,861 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 420 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Clearwater Paper Corporation by 77.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,226 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 1,406 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Clearwater Paper Corporation by 1.0% in the 1st quarter. US Bancorp DE now owns 3,714 shares of the basic materials company’s stock valued at $208,000 after purchasing an additional 35 shares in the last quarter. 84.45% of the stock is currently owned by institutional investors.
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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