Analysts Expect Clearwater Paper Corp (NYSE:CLW) Will Post Earnings of $0.39 Per Share
Wall Street analysts expect that Clearwater Paper Corp (NYSE:CLW) will report earnings per share of $0.39 for the current quarter, Zacks reports. Two analysts have provided estimates for Clearwater Paper Corp’s earnings. The lowest EPS estimate is $0.37 and the highest is $0.40. Clearwater Paper Corp posted earnings of $0.13 per share in the same quarter last year, which indicates a positive year over year growth rate of 200%. The business is expected to issue its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that Clearwater Paper Corp will report full year earnings of $2.58 per share for the current year, with EPS estimates ranging from $2.47 to $2.68. For the next year, analysts forecast that the business will report earnings of $3.65 per share, with EPS estimates ranging from $3.09 to $4.21. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Clearwater Paper Corp.
Clearwater Paper Corp (NYSE:CLW) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.08. Clearwater Paper Corp had a return on equity of 6.74% and a net margin of 1.87%. The company had revenue of $429.70 million during the quarter, compared to analyst estimates of $439.33 million. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Clearwater Paper Corp from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada lowered their target price on Clearwater Paper Corp from $63.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday. BidaskClub cut Clearwater Paper Corp from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Vertical Research raised Clearwater Paper Corp from a “hold” rating to a “buy” rating in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $60.50.
Shares of Clearwater Paper Corp (NYSE:CLW) traded down 0.33% on Tuesday, reaching $44.95. The company’s stock had a trading volume of 79,824 shares. Clearwater Paper Corp has a 52 week low of $43.60 and a 52 week high of $68.40. The stock has a market capitalization of $739.74 million, a price-to-earnings ratio of 28.98 and a beta of 1.07. The stock has a 50-day moving average of $46.93 and a 200 day moving average of $52.03.
In other news, insider Michael S. Gadd sold 877 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $50.01, for a total value of $43,858.77. Following the transaction, the insider now directly owns 19,010 shares in the company, valued at approximately $950,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael S. Gadd sold 1,546 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $50.04, for a total value of $77,361.84. Following the completion of the transaction, the insider now owns 17,464 shares in the company, valued at $873,898.56. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Clearwater Paper Corp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,539 shares of the basic materials company’s stock valued at $119,000 after buying an additional 380 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Clearwater Paper Corp during the second quarter valued at about $216,000. KBC Group NV raised its position in Clearwater Paper Corp by 8.1% in the second quarter. KBC Group NV now owns 25,699 shares of the basic materials company’s stock valued at $1,201,000 after buying an additional 1,920 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Clearwater Paper Corp by 46.1% in the second quarter. BNP Paribas Arbitrage SA now owns 6,537 shares of the basic materials company’s stock valued at $306,000 after buying an additional 2,064 shares in the last quarter. Finally, Comerica Bank raised its position in Clearwater Paper Corp by 12.7% in the second quarter. Comerica Bank now owns 56,350 shares of the basic materials company’s stock valued at $2,753,000 after buying an additional 6,330 shares in the last quarter. Institutional investors and hedge funds own 84.59% of the company’s stock.
Clearwater Paper Corp Company Profile
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.
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