Analysts forecast that Verso Corp (NYSE:VRS) will report $1.73 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Verso’s earnings. The highest EPS estimate is $1.98 and the lowest is $1.47. Verso posted earnings per share of $0.24 in the same quarter last year, which suggests a positive year-over-year growth rate of 620.8%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, November 7th.
On average, analysts expect that Verso will report full year earnings of $3.09 per share for the current financial year. For the next year, analysts expect that the firm will post earnings of $4.68 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Verso.
Verso (NYSE:VRS) last posted its quarterly earnings data on Tuesday, August 7th. The basic materials company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $632.42 million. Verso had a return on equity of 8.36% and a net margin of 1.53%.
A number of equities analysts recently issued reports on the company. ValuEngine cut Verso from a “buy” rating to a “hold” rating in a report on Friday, October 12th. B. Riley lifted their target price on Verso from $34.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. BWS Financial lifted their target price on Verso from $32.00 to $40.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research cut Verso from a “buy” rating to a “hold” rating in a report on Sunday, July 15th.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System grew its holdings in shares of Verso by 21.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,860 shares of the basic materials company’s stock worth $345,000 after acquiring an additional 2,750 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Verso by 7.0% during the second quarter. Macquarie Group Ltd. now owns 42,600 shares of the basic materials company’s stock valued at $927,000 after buying an additional 2,800 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Verso during the second quarter valued at $118,000. Northern Trust Corp grew its holdings in shares of Verso by 1.5% during the first quarter. Northern Trust Corp now owns 361,529 shares of the basic materials company’s stock valued at $6,088,000 after buying an additional 5,440 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Verso during the second quarter valued at $125,000. Institutional investors and hedge funds own 88.07% of the company’s stock.
Shares of NYSE VRS traded up $2.97 during mid-day trading on Wednesday, reaching $31.16. The company had a trading volume of 588,827 shares, compared to its average volume of 423,675. The company has a quick ratio of 0.69, a current ratio of 1.78 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -41.55 and a beta of 2.23. Verso has a 1-year low of $7.00 and a 1-year high of $34.60.
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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