Zacks: Analysts Anticipate Verso Corp (NYSE:VRS) Will Announce Earnings of $0.03 Per Share

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Equities analysts predict that Verso Corp (NYSE:VRS) will announce earnings per share (EPS) of $0.03 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Verso’s earnings, with the lowest EPS estimate coming in at ($0.35) and the highest estimate coming in at $0.40. Verso reported earnings per share of $0.94 in the same quarter last year, which would indicate a negative year over year growth rate of 96.8%. The business is expected to report its next earnings report on Tuesday, November 10th.

According to Zacks, analysts expect that Verso will report full-year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.15 to $1.54. For the next fiscal year, analysts anticipate that the company will report earnings of $0.50 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Verso.

Verso (NYSE:VRS) last released its earnings results on Thursday, August 6th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.73) by $1.74. The business had revenue of $268.00 million for the quarter, compared to analysts’ expectations of $293.00 million. Verso had a net margin of 9.89% and a return on equity of 0.45%.

VRS has been the topic of a number of analyst reports. BWS Financial lowered shares of Verso from a “strong-buy” rating to a “buy” rating and set a $29.50 price objective on the stock. in a research note on Wednesday, June 10th. B. Riley lifted their price objective on shares of Verso from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. ValuEngine upgraded shares of Verso from a “hold” rating to a “buy” rating in a research note on Monday, June 15th. Finally, Zacks Investment Research upgraded shares of Verso from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Friday, August 14th.

Large investors have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of Verso by 278.7% in the second quarter. Bank of Montreal Can now owns 3,787 shares of the basic materials company’s stock worth $42,000 after buying an additional 2,787 shares during the last quarter. US Bancorp DE increased its stake in shares of Verso by 196.8% in the second quarter. US Bancorp DE now owns 5,292 shares of the basic materials company’s stock worth $63,000 after buying an additional 3,509 shares during the last quarter. Citigroup Inc. increased its stake in shares of Verso by 54.2% in the first quarter. Citigroup Inc. now owns 11,397 shares of the basic materials company’s stock worth $129,000 after buying an additional 4,008 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Verso in the second quarter worth $136,000. Finally, SG Americas Securities LLC increased its stake in shares of Verso by 94.0% in the first quarter. SG Americas Securities LLC now owns 12,353 shares of the basic materials company’s stock worth $139,000 after buying an additional 5,984 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Shares of VRS traded up $0.08 during mid-day trading on Tuesday, reaching $13.51. 270,395 shares of the stock traded hands, compared to its average volume of 250,035. The firm has a market cap of $454.88 million, a price-to-earnings ratio of 2.49 and a beta of 1.84. The stock has a fifty day simple moving average of $12.86 and a 200 day simple moving average of $13.36. Verso has a 12-month low of $9.92 and a 12-month high of $19.49.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Friday, September 18th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.96%. Verso’s dividend payout ratio (DPR) is presently -210.53%.

About Verso

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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