Clearwater Paper (NYSE:CLW) Announces Quarterly Earnings Results, Misses Estimates By $0.84 EPS

Clearwater Paper (NYSE:CLW) released its earnings results on Thursday. The basic materials company reported ($1.17) earnings per share for the quarter, missing the consensus estimate 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 Price Performance

NYSE:CLW traded up $0.32 on Thursday, reaching $29.00. 555,418 shares of the company’s stock traded hands, compared to its average volume of 300,394. 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 stock has a 50-day simple moving average of $29.49 and a 200-day simple moving average of $30.30. The firm has a market cap of $480.52 million, a PE ratio of 33.72 and a beta of 0.35. Clearwater Paper has a 12 month low of $23.97 and a 12 month high of $57.13.

Clearwater Paper announced that its board has approved a share buyback plan on Monday, November 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 23.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

CLW has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a research report on Tuesday, November 5th. StockNews.com downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th.

About Clearwater Paper

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.