Verso Corporation (VRS) Upgraded to Hold by Zacks Investment Research
Verso Corporation (NYSE:VRS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Verso Corporation is engaged in the paper industry. The Company produces coated freesheet, coated ground wood and uncoated super calendered papers and pulp. It serves to magazine and catalog publishers, commercial printers, specialty retail merchandisers and paper merchants. The company operates primarily in Kentucky, Maine, Maryland, Michigan, Minnesota and Wisconsin. Verso Corporation is based in Memphis, United States. “
Several other equities research analysts also recently issued reports on VRS. B. Riley restated a “buy” rating and issued a $11.25 price objective on shares of Verso Corporation in a research note on Sunday, August 13th. ValuEngine upgraded shares of Verso Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.
Verso Corporation (VRS) traded up 0.68% during mid-day trading on Thursday, reaching $5.93. 23,145 shares of the company traded hands. The stock has a 50 day moving average price of $5.23 and a 200-day moving average price of $5.23. The company has a market capitalization of $204.32 million, a P/E ratio of 3.33 and a beta of 1.28. Verso Corporation has a 52-week low of $3.17 and a 52-week high of $8.43.
Verso Corporation (NYSE:VRS) last announced its quarterly earnings data on Wednesday, August 9th. The basic materials company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.39). The company had revenue of $585.00 million during the quarter, compared to analyst estimates of $579.52 million. Verso Corporation had a return on equity of 168.52% and a net margin of 47.46%. Analysts expect that Verso Corporation will post ($1.37) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC bought a new position in Verso Corporation in the second quarter worth $104,000. California Public Employees Retirement System bought a new position in Verso Corporation in the first quarter worth $145,000. BlueCrest Capital Management Ltd bought a new position in Verso Corporation in the first quarter worth $147,000. KCG Holdings Inc. bought a new position in Verso Corporation in the first quarter worth $170,000. Finally, Oxford Asset Management bought a new position in Verso Corporation in the first quarter worth $185,000. 54.13% of the stock is owned by hedge funds and other institutional investors.
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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