Clearwater Paper (NYSE:CLW) Announces Earnings Results

Clearwater Paper (NYSE:CLW) announced 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 Stock Performance

CLW traded up $0.32 during midday trading on Thursday, hitting $29.00. 539,038 shares of the company 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 company’s 50-day moving average is $29.49 and its 200 day moving average is $30.30. Clearwater Paper has a 52 week low of $23.97 and a 52 week high of $57.13. The firm has a market capitalization of $480.52 million, a PE ratio of 33.72 and a beta of 0.35.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CLW shares. StockNews.com lowered Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price target on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper declared 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 shares. This repurchase authorization allows the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares 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.