Brokers Issue Forecasts for Clearwater Paper Corporation’s Q3 2017 Earnings (CLW)

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.

ILLEGAL ACTIVITY NOTICE: This piece was first published by Rincon Hill News and is the property of of Rincon Hill News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://rinconhillneighbors.org/2017/08/19/brokers-issue-forecasts-for-clearwater-paper-corporations-q3-2017-earnings-clw-updated.html.

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.

Receive News & Ratings for Clearwater Paper Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearwater Paper Corporation and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.