In a report released yesterday, Adam Josephson from KeyBanc reiterated a Hold rating on Clearwater Paper (CLW). The company’s shares closed yesterday at $19.96, close to its 52-week low of $18.95.
Josephson commented:
“We are reducing our previous Street-low 2019 adj. EBITDA estimate from $145M to $142M, such that we have CLW’s net debt/EBITDA ratio hitting ~5.5x at year-end. CLW should remain within its covenants, but its leverage ratio is quite high nonetheless and industry conditions are difficult.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.0% and a 64.4% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Clearwater Paper has an analyst consensus of Moderate Buy, with a price target consensus of $36.50.
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Based on Clearwater Paper’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $188 million. In comparison, last year the company had a net profit of $2.6 million.
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Clearwater Paper Corp. engages in the manufacturing and selling of private label tissue, paperboard, and pulp-based products. It operates through Consumer Products; and Pulp and Paperboard segments.
