Clearwater (CLW) To Trim Operations On Continued Headwinds
Zacks Investment Research | Nov 29, 2016 09:01PM ET
Over the past 90 days, Clearwater Paper Corporation (NYSE:CLW) has grossly underperformed the Zacks categorized Paper & Paper Products industry due to continued macroeconomic headwinds. This Zacks Rank #5 (Strong Sell) has an average return of 1.9% for the last 90 days compared with 8.2% for the industry. It appears to be grappling with numerous challenges that are likely to weigh on its performance in the forthcoming quarters as well.
The earnings estimates of the company for the current quarter have declined 24.6% in the last 90 days to 89 cents per share with significant downward estimate revisions. The earnings estimates for the current year have also reduced 9.1% from $3.62 to $3.29 per share in the last 90 days, signifying negative investor confidence.
In order to optimize its operations through better asset utilization and improve its lackluster performance, Clearwater has recently decided to permanently close its Oklahoma City converting facility along with two of its tissue machines that are currently operating at the tissue facility in Neenah, WI. The Oklahoma facility, which converts tissue in to packaged products, is likely to run till Mar 31, 2017.
CLEARWATER PAPR Price
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.