Clearwater Paper Corporation (NYSE:CLW) – Research analysts at DA Davidson increased their Q3 2017 earnings estimates for shares of Clearwater Paper Corporation in a note issued to investors on Thursday. DA Davidson analyst S. Chercover now expects that the basic materials company will earn $0.40 per share for the quarter, up from their prior estimate of $0.37.
A number of other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of Clearwater Paper Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Vertical Research raised shares of Clearwater Paper Corporation from a “hold” rating to a “buy” rating in a report on Monday, April 24th. BidaskClub lowered shares of Clearwater Paper Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, Royal Bank Of Canada cut their target price on shares of Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $60.50.
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Shares of Clearwater Paper Corporation (CLW) opened at 44.95 on Monday. The company has a 50 day moving average of $46.93 and a 200-day moving average of $52.03. Clearwater Paper Corporation has a 12-month low of $43.60 and a 12-month high of $68.40. The firm has a market cap of $739.74 million, a price-to-earnings ratio of 28.98 and a beta of 1.07.
Clearwater Paper Corporation (NYSE:CLW) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.08. Clearwater Paper Corporation had a net margin of 1.49% and a return on equity of 7.74%. The company had revenue of $429.70 million for the quarter, compared to analyst estimates of $439.33 million. During the same quarter in the prior year, the business posted $1.37 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in CLW. Victory Capital Management Inc. boosted its stake in Clearwater Paper Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,539 shares of the basic materials company’s stock worth $119,000 after buying an additional 380 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Clearwater Paper Corporation during the second quarter worth about $216,000. KBC Group NV boosted its stake in Clearwater Paper Corporation by 8.1% in the second quarter. KBC Group NV now owns 25,699 shares of the basic materials company’s stock worth $1,201,000 after buying an additional 1,920 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Clearwater Paper Corporation by 46.1% in the second quarter. BNP Paribas Arbitrage SA now owns 6,537 shares of the basic materials company’s stock worth $306,000 after buying an additional 2,064 shares in the last quarter. Finally, Comerica Bank boosted its stake in Clearwater Paper Corporation by 12.7% in the second quarter. Comerica Bank now owns 56,350 shares of the basic materials company’s stock worth $2,753,000 after buying an additional 6,330 shares in the last quarter. 84.59% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Michael S. Gadd sold 877 shares of Clearwater Paper Corporation stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $50.01, for a total value of $43,858.77. Following the sale, the insider now owns 19,010 shares of the company’s stock, valued at approximately $950,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael S. Gadd sold 1,546 shares of Clearwater Paper Corporation stock in a transaction 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 in the company, valued at approximately $873,898.56. The disclosure for this sale can be found here. 2.41% of the stock is owned by insiders.
Clearwater Paper Corporation 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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