Clearwater Paper (NYSE:CLW) Posts Earnings Results, Misses Estimates By $0.51 EPS

Key Points

• Clearwater Paper reported earnings of $0.22 per share, which missed analysts' estimates by $0.51 EPS.
• The company has a debt-to-equity ratio of 0.34 and a current ratio of 1.66, indicating a stable financial position despite the earnings miss.
• Analyst ratings have recently changed, with Wall Street Zen downgrading Clearwater Paper from a "hold" to a "sell" rating.

Clearwater Paper (NYSE:CLW - Get Free Report) announced its quarterly earnings data on Tuesday. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.51), Zacks reports. Clearwater Paper had a negative return on equity of 4.11% and a net margin of 12.98%. The business had revenue of $391.80 million during the quarter, compared to the consensus estimate of $397.00 million.

Clearwater Paper Trading Down 1.1%

Shares of NYSE:CLW traded down $0.26 during trading on Friday, reaching $22.30. 361,206 shares of the company traded hands, compared to its average volume of 222,673. The company has a current ratio of 1.97, a quick ratio of 0.80 and a debt-to-equity ratio of 0.39. Clearwater Paper has a 52-week low of $21.93 and a 52-week high of $53.12. The firm has a market capitalization of $362.54 million, a price-to-earnings ratio of 1.85 and a beta of 0.10. The business's fifty day moving average is $28.46 and its 200-day moving average is $27.51.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Clearwater Paper by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company's stock worth $244,000 after acquiring an additional 390 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Clearwater Paper during the first quarter valued at about $204,000. Finally, Empowered Funds LLC boosted its holdings in shares of Clearwater Paper by 3.0% during the first quarter. Empowered Funds LLC now owns 115,315 shares of the basic materials company's stock worth $2,926,000 after purchasing an additional 3,368 shares during the period. 89.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CLW shares. Royal Bank Of Canada lowered their price target on shares of Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday. Wall Street Zen downgraded Clearwater Paper from a "hold" rating to a "sell" rating in a report on Saturday, July 12th.

Clearwater Paper Company Profile

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.