Wall Street brokerages predict that Verso Corp (NYSE:VRS) will post ($0.15) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Verso’s earnings, with the lowest EPS estimate coming in at ($1.28) and the highest estimate coming in at $0.98. Verso posted earnings of $1.80 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 108.3%. The business is scheduled to issue its next earnings report before the market opens on Tuesday, November 12th.
According to Zacks, analysts expect that Verso will report full-year earnings of ($2.46) per share for the current financial year, with EPS estimates ranging from ($4.64) to ($0.28). For the next year, analysts forecast that the firm will post earnings of ($4.81) per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Verso.
Verso (NYSE:VRS) last announced its earnings results on Thursday, August 8th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.86) by $1.98. The business had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $632.30 million. Verso had a return on equity of 18.97% and a net margin of 3.64%.
A number of research firms have recently weighed in on VRS. Zacks Investment Research raised Verso from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Saturday, October 5th. ValuEngine raised Verso from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, B. Riley lowered their price objective on Verso from $26.00 to $17.50 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $27.17.
NYSE VRS traded up $0.05 during midday trading on Friday, hitting $14.85. 167,753 shares of the company traded hands, compared to its average volume of 305,926. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.07 and a quick ratio of 0.63. The company has a market cap of $533.55 million, a PE ratio of 4.01 and a beta of 2.03. The company’s 50-day simple moving average is $13.29 and its 200-day simple moving average is $15.74. Verso has a 52 week low of $9.61 and a 52 week high of $28.72.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Verso by 11.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,132,813 shares of the basic materials company’s stock worth $59,680,000 after purchasing an additional 327,462 shares in the last quarter. Oaktree Capital Management LP boosted its position in shares of Verso by 38.5% in the 2nd quarter. Oaktree Capital Management LP now owns 1,331,319 shares of the basic materials company’s stock worth $25,361,000 after purchasing an additional 370,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Verso by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,115,693 shares of the basic materials company’s stock worth $21,053,000 after acquiring an additional 14,605 shares during the last quarter. Skylands Capital LLC raised its stake in Verso by 16.2% in the 3rd quarter. Skylands Capital LLC now owns 716,400 shares of the basic materials company’s stock worth $8,869,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Verso by 51.8% in the 2nd quarter. Wells Fargo & Company MN now owns 697,807 shares of the basic materials company’s stock worth $13,293,000 after acquiring an additional 238,193 shares during the last quarter. 90.26% of the stock is owned by hedge funds and other institutional investors.
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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