Clearwater Paper (NYSE:CLW) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Clearwater Paper (NYSE:CLW) released its quarterly earnings data on Monday. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.07), FiscalAI reports. Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%. The business had revenue of $384.90 million for the quarter, compared to analyst estimates of $388.39 million.

Clearwater Paper Stock Performance

Shares of CLW traded down $0.20 during midday trading on Monday, reaching $19.09. 136,438 shares of the stock were exchanged, compared to its average volume of 194,695. Clearwater Paper has a twelve month low of $11.73 and a twelve month high of $23.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.29 and a quick ratio of 1.17. The company has a market capitalization of $307.84 million, a price-to-earnings ratio of -6.28 and a beta of 0.33. The business’s 50-day moving average price is $20.26 and its 200 day moving average price is $17.73.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CLW shares. Truist Financial raised their target price on Clearwater Paper from $12.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Zacks Research upgraded shares of Clearwater Paper to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Sunday, June 28th. TD Securities reaffirmed a “hold” rating and issued a $20.00 target price on shares of Clearwater Paper in a research report on Wednesday, July 29th. Finally, Bank of America increased their target price on shares of Clearwater Paper from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Clearwater Paper has an average rating of “Hold” and an average price target of $19.83.

Clearwater Paper Company Profile

Clearwater Paper Corporation is a manufacturer of bleached paperboard and pulp products. Its paperboard is used in packaging applications such as folding cartons, food and beverage packaging, and other consumer and industrial products. The company also produces pulp used in the manufacture of paper and tissue products.

Clearwater Paper primarily serves customers in North America, supplying packaging manufacturers, consumer-products companies, and other converters. Its operations have included paper mills in the United States, including facilities in Idaho and Arkansas, with products marketed to a range of food, beverage, household, and commercial markets.

The company was formed in 2008 through the separation of Potlatch Corporation’s pulp and paperboard businesses.