Verso Corporation (VRS) Cut to “Strong Sell” at ValuEngine
Verso Corporation (NYSE:VRS) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research lowered Verso Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, March 22nd. B. Riley restated a “buy” rating and issued a $11.25 target price on shares of Verso Corporation in a report on Friday, May 19th.
Verso Corporation (NYSE:VRS) traded up 2.24% on Wednesday, hitting $5.01. 157,525 shares of the company’s stock were exchanged. The company has a market cap of $172.29 million and a PE ratio of 3.26. Verso Corporation has a 12-month low of $3.17 and a 12-month high of $13.60. The company’s 50-day moving average price is $4.18 and its 200-day moving average price is $5.86.
Verso Corporation (NYSE:VRS) last released its earnings results on Thursday, May 18th. The basic materials company reported ($0.61) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.61). Verso Corporation had a return on equity of 581.15% and a net margin of 47.25%. The company had revenue of $616 million for the quarter, compared to analysts’ expectations of $615.50 million. Analysts forecast that Verso Corporation will post ($0.71) earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System purchased a new position in shares of Verso Corporation during the first quarter worth approximately $145,000. BlueCrest Capital Management Ltd purchased a new position in shares of Verso Corporation during the first quarter worth approximately $147,000. KCG Holdings Inc. purchased a new position in shares of Verso Corporation during the first quarter worth approximately $170,000. Oxford Asset Management purchased a new position in shares of Verso Corporation during the first quarter worth 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 worth $275,000 after buying an additional 39,000 shares during the last quarter. Institutional investors and hedge funds own 58.64% of the company’s stock.
About Verso Corporation
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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