Wall Street analysts expect that Verso Corp (NYSE:VRS) will announce earnings per share (EPS) of $1.71 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Verso’s earnings, with the lowest EPS estimate coming in at $1.37 and the highest estimate coming in at $2.04. Verso posted earnings per share of $1.04 during the same quarter last year, which would indicate a positive year-over-year growth rate of 64.4%. The business is scheduled to report its next quarterly earnings report on Thursday, March 14th.
On average, analysts expect that Verso will report full-year earnings of $3.53 per share for the current year. For the next financial year, analysts forecast that the company will post earnings of $5.77 per share, with EPS estimates ranging from $4.95 to $6.59. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Verso.
Verso (NYSE:VRS) last issued its earnings results on Wednesday, November 7th. The basic materials company reported $1.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.10). The company had revenue of $704.00 million during the quarter, compared to analyst estimates of $714.15 million. Verso had a return on equity of 17.33% and a net margin of 4.61%.
A number of equities analysts recently issued reports on the company. 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. B. Riley lifted their price target on Verso from $45.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, November 8th. Finally, ValuEngine downgraded Verso from a “buy” rating to a “hold” rating in a report on Friday, October 12th.
Shares of NYSE VRS opened at $25.07 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.96. The firm has a market capitalization of $871.43 million, a P/E ratio of -33.43 and a beta of 2.12. Verso has a 52-week low of $10.91 and a 52-week high of $34.60.
In other Verso news, CFO Allen James Campbell purchased 1,000 shares of the stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average price of $27.00 per share, for a total transaction of $27,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.45% of the company’s stock.
Several hedge funds have recently modified their holdings of VRS. Dimensional Fund Advisors LP grew its holdings in shares of Verso by 23.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,478,048 shares of the basic materials company’s stock valued at $83,434,000 after buying an additional 469,946 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Verso during the third quarter valued at $14,292,000. Morgan Stanley grew its holdings in shares of Verso by 235.8% during the third quarter. Morgan Stanley now owns 490,742 shares of the basic materials company’s stock valued at $16,522,000 after buying an additional 344,613 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Verso by 16.6% during the second quarter. BlackRock Inc. now owns 2,383,493 shares of the basic materials company’s stock valued at $51,866,000 after buying an additional 339,301 shares in the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Verso by 437.3% during the third quarter. Teachers Advisors LLC now owns 367,959 shares of the basic materials company’s stock valued at $12,389,000 after buying an additional 299,477 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.
Verso Company Profile
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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