FY2018 Earnings Estimate for Clearwater Paper Corporation Issued By DA Davidson (CLW)

Clearwater Paper Corporation (NYSE:CLW) – Research analysts at DA Davidson cut their FY2018 earnings per share estimates for shares of Clearwater Paper Corporation in a research note issued on Thursday. DA Davidson analyst S. Chercover now expects that the basic materials company will post earnings per share of $3.91 for the year, down from their prior estimate of $4.21.

Clearwater Paper Corporation (NYSE:CLW) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.08. The company had revenue of $429.70 million during the quarter, compared to analysts’ expectations of $439.33 million. Clearwater Paper Corporation had a return on equity of 7.74% and a net margin of 1.49%. Clearwater Paper Corporation’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 earnings per share.

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Several other analysts also recently commented on the company. Zacks Investment Research downgraded Clearwater Paper Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada reduced their target price on Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, August 4th. Finally, BidaskClub downgraded Clearwater Paper Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.00.

Clearwater Paper Corporation (NYSE:CLW) traded down 1.78% on Monday, hitting $44.20. The stock had a trading volume of 38,123 shares. The stock has a market capitalization of $726.34 million, a price-to-earnings ratio of 27.97 and a beta of 1.05. Clearwater Paper Corporation has a 52 week low of $43.60 and a 52 week high of $68.40. The company has a 50-day moving average price of $46.61 and a 200-day moving average price of $47.81.

In other Clearwater Paper Corporation news, insider Michael S. Gadd sold 1,546 shares of Clearwater Paper Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $50.04, for a total transaction of $77,361.84. Following the completion of the transaction, the insider now owns 17,464 shares in the company, valued at approximately $873,898.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael S. Gadd sold 877 shares of Clearwater Paper Corporation stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $50.01, for a total value of $43,858.77. Following the transaction, the insider now owns 19,010 shares of the company’s stock, valued at approximately $950,690.10. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CLW. BlackRock Inc. boosted its stake in Clearwater Paper Corporation by 138,458.4% during the 1st quarter. BlackRock Inc. now owns 2,157,355 shares of the basic materials company’s stock valued at $120,812,000 after purchasing an additional 2,155,798 shares during the last quarter. Capital World Investors acquired a new position in Clearwater Paper Corporation during the 2nd quarter valued at about $18,233,000. Northern Trust Corp boosted its stake in Clearwater Paper Corporation by 56.7% during the 2nd quarter. Northern Trust Corp now owns 351,814 shares of the basic materials company’s stock valued at $16,447,000 after purchasing an additional 127,309 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Clearwater Paper Corporation by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,316,600 shares of the basic materials company’s stock valued at $61,551,000 after purchasing an additional 109,084 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in Clearwater Paper Corporation by 27.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 394,107 shares of the basic materials company’s stock valued at $18,425,000 after purchasing an additional 86,035 shares during the last quarter. Institutional investors and hedge funds own 84.45% of the company’s stock.

About Clearwater Paper Corporation

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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