Equities research analysts forecast that Veritiv (NYSE:VRTV) will report sales of $2.03 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Veritiv’s earnings, with the highest sales estimate coming in at $2.04 billion and the lowest estimate coming in at $2.03 billion. Veritiv reported sales of $1.99 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Veritiv will report full year sales of $8.44 billion for the current financial year, with estimates ranging from $8.41 billion to $8.47 billion. For the next year, analysts forecast that the firm will report sales of $8.42 billion per share, with estimates ranging from $8.42 billion to $8.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Veritiv.
Veritiv (NYSE:VRTV) last released its quarterly earnings results on Thursday, March 1st. The basic materials company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.01). The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.15 billion. Veritiv had a positive return on equity of 9.17% and a negative net margin of 0.16%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share.
Several analysts recently commented on VRTV shares. Bank of America set a $39.00 target price on Veritiv and gave the company a “buy” rating in a report on Monday, March 5th. ValuEngine cut Veritiv from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. SunTrust Banks cut Veritiv from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Zacks Investment Research upgraded Veritiv from a “strong sell” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Wells Fargo upped their target price on Veritiv from $30.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, April 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.40.
VRTV stock traded down $0.05 during trading on Monday, hitting $37.20. The company had a trading volume of 37,807 shares, compared to its average volume of 89,996. Veritiv has a one year low of $20.35 and a one year high of $53.25. The stock has a market capitalization of $586.08, a PE ratio of -43.76, a PEG ratio of 1.63 and a beta of 0.54. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.33 and a quick ratio of 1.53.
Hedge funds have recently made changes to their positions in the stock. Anchor Capital Advisors LLC boosted its holdings in Veritiv by 27.8% in the fourth quarter. Anchor Capital Advisors LLC now owns 59,106 shares of the basic materials company’s stock valued at $1,708,000 after acquiring an additional 12,853 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Veritiv by 69.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 116,571 shares of the basic materials company’s stock worth $3,789,000 after buying an additional 47,622 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Veritiv by 5.0% during the 4th quarter. OppenheimerFunds Inc. now owns 190,850 shares of the basic materials company’s stock worth $5,515,000 after buying an additional 9,052 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Veritiv by 354.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 261,004 shares of the basic materials company’s stock worth $7,543,000 after buying an additional 203,623 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Veritiv by 24.1% during the 4th quarter. California Public Employees Retirement System now owns 82,516 shares of the basic materials company’s stock worth $2,385,000 after buying an additional 16,013 shares in the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.
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Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.
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