Verso Corp (NYSE:VRS)’s share price was down 7.7% during trading on Monday . The company traded as low as $28.62 and last traded at $28.64. Approximately 564,311 shares changed hands during trading, an increase of 34% from the average daily volume of 421,156 shares. The stock had previously closed at $31.02.
A number of equities analysts recently commented on VRS shares. BWS Financial lifted their price target on Verso from $32.00 to $40.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 8th. B. Riley set a $26.00 price objective on shares of Verso and gave the stock a “buy” rating in a research report on Monday, July 9th. Finally, Zacks Investment Research downgraded shares of Verso from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th.
The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 1.78. The stock has a market capitalization of $1.06 billion, a PE ratio of -41.16 and a beta of 1.82.
Verso (NYSE:VRS) last issued its quarterly earnings data on Tuesday, August 7th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The firm had revenue of $644.00 million during the quarter, compared to the consensus estimate of $632.42 million. Verso had a net margin of 1.53% and a return on equity of 8.36%. equities research analysts forecast that Verso Corp will post 2.01 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Verso by 16.6% during the second quarter. BlackRock Inc. now owns 2,383,493 shares of the basic materials company’s stock worth $51,866,000 after acquiring an additional 339,301 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Verso by 29.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,008,102 shares of the basic materials company’s stock worth $43,696,000 after acquiring an additional 456,067 shares during the last quarter. Millennium Management LLC lifted its position in Verso by 138.4% during the first quarter. Millennium Management LLC now owns 1,667,880 shares of the basic materials company’s stock worth $28,087,000 after acquiring an additional 968,278 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Verso by 146.4% during the first quarter. JPMorgan Chase & Co. now owns 1,319,427 shares of the basic materials company’s stock worth $22,218,000 after acquiring an additional 784,039 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Verso during the second quarter worth approximately $28,408,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.
About Verso (NYSE:VRS)
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, inkjet and digital, supercalendered, and uncoated freesheet papers; and northern bleached hardwood Kraft pulp to manufacture printing, writing, and specialty paper grades, as well as to manufacture tissue products.
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