Wall Street brokerages expect that Verso Corp (NYSE:VRS) will post $309.25 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Verso’s earnings. The highest sales estimate is $319.50 million and the lowest is $299.00 million. Verso reported sales of $616.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 49.8%. The firm is expected to report its next earnings results on Tuesday, November 10th.
On average, analysts expect that Verso will report full-year sales of $1.37 billion for the current year, with estimates ranging from $1.37 billion to $1.38 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.19 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Verso.
Verso (NYSE:VRS) last issued its quarterly earnings data on Thursday, August 6th. The basic materials company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.73) by $1.74. Verso had a return on equity of 0.45% and a net margin of 9.89%. The business had revenue of $268.00 million for the quarter, compared to analyst estimates of $293.00 million.
VRS has been the topic of several research analyst reports. B. Riley lifted their target price on Verso from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. ValuEngine raised Verso from a “hold” rating to a “buy” rating in a research note on Monday, June 15th. Zacks Investment Research raised Verso from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Friday, August 14th. Finally, BWS Financial cut Verso from a “strong-buy” rating to a “buy” rating and set a $29.50 target price on the stock. in a research note on Wednesday, June 10th.
Shares of NYSE VRS traded up $0.08 during midday trading on Thursday, reaching $13.51. 270,395 shares of the company traded hands, compared to its average volume of 250,035. Verso has a 52 week low of $9.92 and a 52 week high of $19.49. The stock has a 50-day moving average price of $12.86 and a 200 day moving average price of $13.36. The company has a market cap of $454.88 million, a price-to-earnings ratio of 2.49 and a beta of 1.84.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Friday, September 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Thursday, September 17th. Verso’s dividend payout ratio is presently -210.53%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in VRS. Nuveen Asset Management LLC lifted its stake in Verso by 0.6% in the second quarter. Nuveen Asset Management LLC now owns 173,061 shares of the basic materials company’s stock valued at $2,069,000 after buying an additional 958 shares during the period. AQR Capital Management LLC grew its stake in Verso by 0.9% in the second quarter. AQR Capital Management LLC now owns 174,044 shares of the basic materials company’s stock valued at $2,082,000 after purchasing an additional 1,600 shares in the last quarter. Sei Investments Co. grew its stake in Verso by 17.0% in the second quarter. Sei Investments Co. now owns 32,201 shares of the basic materials company’s stock valued at $385,000 after purchasing an additional 4,686 shares in the last quarter. Bank of America Corp DE grew its stake in Verso by 12.4% in the second quarter. Bank of America Corp DE now owns 24,176 shares of the basic materials company’s stock valued at $289,000 after purchasing an additional 2,668 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new position in Verso in the second quarter valued at approximately $3,560,000. Institutional investors and hedge funds own 81.38% of the company’s stock.
Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.
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