Clearwater Paper (NYSE:CLW) Releases Earnings Results, Beats Estimates By $0.08 EPS

Clearwater Paper (NYSE:CLW) announced its earnings results on Wednesday. The basic materials company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.08, FiscalAI reports. The company had revenue of $386.40 million during the quarter, compared to the consensus estimate of $379.00 million. Clearwater Paper had a net margin of 9.14% and a negative return on equity of 3.65%.

Clearwater Paper Price Performance

Shares of Clearwater Paper stock traded up $0.22 during trading hours on Wednesday, reaching $16.78. The stock had a trading volume of 265,268 shares, compared to its average volume of 212,569. The stock’s 50 day moving average is $18.19 and its 200 day moving average is $19.35. The company has a current ratio of 2.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43. Clearwater Paper has a twelve month low of $16.44 and a twelve month high of $30.96. The firm has a market capitalization of $269.18 million, a PE ratio of 2.00 and a beta of 0.20.

Analyst Ratings Changes

Several brokerages recently weighed in on CLW. Royal Bank Of Canada dropped their target price on Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a report on Monday, December 29th. Truist Financial initiated coverage on shares of Clearwater Paper in a research note on Tuesday, January 20th. They issued a “hold” rating and a $21.00 target price for the company. Finally, Wall Street Zen upgraded shares of Clearwater Paper from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.75.

Insider Activity at Clearwater Paper

In related news, VP Steve M. Bowden sold 8,889 shares of Clearwater Paper stock in a transaction on Friday, November 28th. The shares were sold at an average price of $18.14, for a total value of $161,246.46. Following the sale, the vice president owned 68,516 shares of the company’s stock, valued at approximately $1,242,880.24. This trade represents a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.55% of the stock is owned by company insiders.

Institutional Trading of Clearwater Paper

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new stake in Clearwater Paper during the 4th quarter worth $47,000. Tower Research Capital LLC TRC increased its position in Clearwater Paper by 34.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 563 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Clearwater Paper by 608.8% during the second quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 5,656 shares during the period. Caxton Associates LLP purchased a new position in Clearwater Paper during the first quarter worth about $204,000. Finally, Deutsche Bank AG boosted its holdings in Clearwater Paper by 7.0% in the 4th quarter. Deutsche Bank AG now owns 12,319 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

About Clearwater Paper

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.