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

Clearwater Paper (NYSE:CLW) announced its earnings results on Monday. The basic materials company reported ($0.23) 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 the consensus estimate of $388.39 million.

Clearwater Paper Trading Down 1.1%

Shares of NYSE:CLW traded down $0.20 during trading on Monday, hitting $19.09. 138,120 shares of the company’s stock were exchanged, compared to its average volume of 195,024. Clearwater Paper has a 1-year low of $11.73 and a 1-year high of $23.59. The firm has a 50-day moving average price of $20.26 and a two-hundred day moving average price of $17.73. The company has a current ratio of 2.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.45. The firm has a market cap of $307.84 million, a P/E ratio of -6.28 and a beta of 0.33.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CLW shares. Bank of America lifted their price target on Clearwater Paper from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, September 11th. Truist Financial increased their price objective on shares of Clearwater Paper from $12.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Wall Street Zen cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Sunday, June 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a research note on Wednesday, August 5th. Finally, Zacks Research raised shares of Clearwater Paper to a “hold” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.