KeyCorp Weighs in on Clearwater Paper Co.’s Q3 2022 Earnings (NYSE:CLW)

Clearwater Paper Co. (NYSE:CLWGet Rating) – Equities research analysts at KeyCorp boosted their Q3 2022 EPS estimates for Clearwater Paper in a note issued to investors on Tuesday, August 2nd. KeyCorp analyst A. Josephson now expects that the basic materials company will post earnings of $1.52 per share for the quarter, up from their prior estimate of $1.16. The consensus estimate for Clearwater Paper’s current full-year earnings is $3.60 per share. KeyCorp also issued estimates for Clearwater Paper’s Q4 2022 earnings at $0.45 EPS, FY2022 earnings at $4.10 EPS and FY2023 earnings at $2.86 EPS.

Several other equities research analysts also recently issued reports on CLW. StockNews.com upgraded shares of Clearwater Paper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 4th. BMO Capital Markets boosted their price objective on shares of Clearwater Paper from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday. TheStreet upgraded shares of Clearwater Paper from a “c” rating to a “b” rating in a research note on Wednesday. Finally, Royal Bank of Canada upgraded shares of Clearwater Paper from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $40.00 to $45.00 in a research note on Wednesday.

Clearwater Paper Price Performance

CLW opened at $43.22 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.86 and a debt-to-equity ratio of 1.08. Clearwater Paper has a 52-week low of $25.07 and a 52-week high of $46.34. The company has a 50 day moving average of $34.73 and a two-hundred day moving average of $31.71. The company has a market cap of $729.86 million, a P/E ratio of 17.29 and a beta of 0.95.

Clearwater Paper (NYSE:CLWGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.11. Clearwater Paper had a net margin of 2.19% and a return on equity of 11.51%. During the same quarter in the prior year, the company earned ($1.07) earnings per share.

Institutional Trading of Clearwater Paper

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Clearwater Paper during the first quarter worth $29,000. US Bancorp DE increased its holdings in shares of Clearwater Paper by 103.2% in the 1st quarter. US Bancorp DE now owns 1,213 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 616 shares during the period. Koshinski Asset Management Inc. acquired a new stake in shares of Clearwater Paper in the 1st quarter worth about $48,000. Captrust Financial Advisors increased its holdings in shares of Clearwater Paper by 35.0% in the 1st quarter. Captrust Financial Advisors now owns 1,877 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 487 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Clearwater Paper in the 1st quarter worth about $114,000. 90.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Clearwater Paper

In related news, VP Michael S. Gadd sold 8,691 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $42.02, for a total value of $365,195.82. Following the sale, the vice president now directly owns 69,866 shares of the company’s stock, valued at $2,935,769.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.77% of the stock is currently owned by corporate insiders.

About Clearwater Paper

(Get Rating)

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through two segments, Pulp and Paperboard, and Consumer Products. The Pulp and Paperboard segment offers folding cartons, liquid packaging, cups and plates, blister and carded packaging products, top sheet and commercial printing items, and softwood pulp products, as well as custom sheeting, slitting, and cutting of paperboard products.

Further Reading

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