Verso Corporation (NYSE:VRS) Expected to Post Quarterly Sales of $579.52 Million
Equities research analysts predict that Verso Corporation (NYSE:VRS) will announce sales of $579.52 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Verso Corporation’s earnings, with estimates ranging from $579.04 million to $580.00 million. Verso Corporation posted sales of $630.00 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 8%. The business is scheduled to issue its next quarterly earnings results on Monday, August 21st.
On average, analysts expect that Verso Corporation will report full-year sales of $579.52 million for the current financial year, with estimates ranging from $2.49 billion to $2.51 billion. For the next year, analysts forecast that the business will report sales of $2.36 billion per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Verso Corporation.
Verso Corporation (NYSE:VRS) last announced its quarterly earnings data on Thursday, May 18th. The basic materials company reported ($0.61) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.61). Verso Corporation had a net margin of 47.25% and a return on equity of 581.15%. The company had revenue of $616 million during the quarter, compared to analysts’ expectations of $615.50 million.
A number of equities research analysts have issued reports on VRS shares. Zacks Investment Research downgraded shares of Verso Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, March 22nd. ValuEngine downgraded shares of Verso Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 18th. Finally, B. Riley reiterated a “buy” rating and issued a $11.25 target price on shares of Verso Corporation in a research report on Wednesday, May 24th.
Shares of Verso Corporation (NYSE:VRS) opened at 4.62 on Friday. The stock has a market capitalization of $158.88 million and a PE ratio of 3.00. Verso Corporation has a 52 week low of $3.17 and a 52 week high of $12.00. The stock’s 50 day moving average is $3.99 and its 200 day moving average is $6.06.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System acquired a new position in shares of Verso Corporation during the first quarter valued at approximately $145,000. BlueCrest Capital Management Ltd acquired a new position in shares of Verso Corporation during the first quarter valued at approximately $147,000. KCG Holdings Inc. acquired a new position in shares of Verso Corporation during the first quarter valued at approximately $170,000. Oxford Asset Management acquired a new position in shares of Verso Corporation during the first quarter valued at approximately $185,000. Finally, Segantii Capital Management Ltd raised its position in shares of Verso Corporation by 565.2% in the first quarter. Segantii Capital Management Ltd now owns 45,900 shares of the basic materials company’s stock valued at $275,000 after buying an additional 39,000 shares during the period. Institutional investors own 58.64% of the company’s stock.
Verso Corporation Company Profile
Verso Corporation is a producer of coated papers, which are used in magazines, catalogs, advertising brochures and annual reports, among other media and marketing publications. The Company operates through two segments: paper and pulp. The Paper segment includes paper products, which are used in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as advertising brochures, annual reports and direct-mail advertising.
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