Veritiv (VRTV) Expected to Announce Quarterly Sales of $2.03 Billion

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.

WARNING: This piece of content was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/21/veritiv-vrtv-expected-to-announce-quarterly-sales-of-2-03-billion.html.

About Veritiv

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.

Get a free copy of the Zacks research report on Veritiv (VRTV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Veritiv (NYSE:VRTV)

Receive News & Ratings for Veritiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply