Analysts Anticipate Verso Corporation (VRS) Will Announce Quarterly Sales of $637.95 Million
Equities research analysts expect Verso Corporation (NYSE:VRS) to report $637.95 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Verso Corporation’s earnings. The lowest sales estimate is $635.00 million and the highest is $640.90 million. Verso Corporation posted sales of $646.00 million during the same quarter last year, which suggests a negative year over year growth rate of 1.2%. The firm is expected to report its next earnings results on Friday, March 16th.
On average, analysts expect that Verso Corporation will report full-year sales of $637.95 million for the current fiscal year. For the next fiscal year, analysts forecast that the company will report sales of $2.48 billion per share, with estimates ranging from $2.37 billion to $2.60 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Verso Corporation.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Verso Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. BWS Financial increased their target price on Verso Corporation from $15.00 to $20.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 17th. B. Riley reissued a “buy” rating and set a $11.25 target price on shares of Verso Corporation in a research note on Sunday, August 13th. Finally, ValuEngine raised Verso Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.
Several institutional investors and hedge funds have recently modified their holdings of VRS. Donald Smith & CO. Inc. grew its stake in shares of Verso Corporation by 34.2% during the 2nd quarter. Donald Smith & CO. Inc. now owns 2,061,732 shares of the basic materials company’s stock worth $9,670,000 after acquiring an additional 524,849 shares in the last quarter. B. Riley Financial Inc. bought a new position in shares of Verso Corporation in the second quarter valued at $1,853,000. State Street Corp grew its stake in shares of Verso Corporation by 1,555.5% in the second quarter. State Street Corp now owns 355,940 shares of the basic materials company’s stock valued at $1,671,000 after buying an additional 334,440 shares in the last quarter. Northern Trust Corp grew its stake in shares of Verso Corporation by 545.5% in the second quarter. Northern Trust Corp now owns 347,240 shares of the basic materials company’s stock valued at $1,628,000 after buying an additional 293,450 shares in the last quarter. Finally, Wittenberg Investment Management Inc. bought a new position in shares of Verso Corporation in the second quarter valued at $1,310,000. 52.14% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: “Analysts Anticipate Verso Corporation (VRS) Will Announce Quarterly Sales of $637.95 Million” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/11/24/analysts-anticipate-verso-corporation-vrs-will-announce-quarterly-sales-of-637-95-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Verso Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verso Corporation and related companies with MarketBeat.com's FREE daily email newsletter.