Clearwater Paper (NYSE:CLW) Initiates Stock Repurchase Program

Clearwater Paper (NYSE:CLW) announced that its board has approved a share buyback plan on Monday, November 4th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 23.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Clearwater Paper Price Performance

CLW stock opened at $29.04 on Thursday. The stock has a 50-day moving average price of $28.54 and a two-hundred day moving average price of $40.29. The stock has a market cap of $482.94 million, a PE ratio of 33.77 and a beta of 0.34. The company has a current ratio of 1.73, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73. Clearwater Paper has a 1 year low of $24.51 and a 1 year high of $57.13.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share for the quarter. The company had revenue of $586.40 million during the quarter. Clearwater Paper had a net margin of 0.74% and a return on equity of 4.34%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CLW shares. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of Clearwater Paper in a research report on Tuesday. StockNews.com cut Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday.

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.