Clearwater Paper Corporation (NYSE:CLW) posted its quarterly earnings results on Thursday. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.18, Bloomberg Earnings reports. Clearwater Paper Corporation had a net margin of 1.50% and a return on equity of 7.42%. The company had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.87 million. During the same period last year, the firm earned $0.14 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis.
Clearwater Paper Corporation (CLW) opened at 44.75 on Friday. The company’s 50 day moving average price is $46.33 and its 200 day moving average price is $47.24. Clearwater Paper Corporation has a 12 month low of $42.20 and a 12 month high of $68.40. The firm has a market capitalization of $735.38 million, a P/E ratio of 28.85 and a beta of 1.05.
A number of equities research analysts have recently issued reports on CLW shares. Zacks Investment Research downgraded shares of Clearwater Paper Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reduced their price target on shares of Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, August 4th. KeyCorp reiterated a “hold” rating on shares of Clearwater Paper Corporation in a research report on Thursday. Finally, BidaskClub downgraded shares of 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 given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.00.
In related news, insider Michael S. Gadd sold 1,546 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $50.04, for a total transaction of $77,361.84. Following the completion of the sale, the insider now directly owns 17,464 shares of the company’s stock, valued at $873,898.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.41% of the stock is owned by corporate insiders.
About Clearwater Paper Corporation
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.
Receive News & Ratings for Clearwater Paper Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearwater Paper Corporation and related companies with MarketBeat.com's FREE daily email newsletter.