Brokerages forecast that Verso Co. (NYSE:VRS) will announce sales of $637.95 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Verso’s earnings. The highest sales estimate is $640.90 million and the lowest is $635.00 million. Verso posted sales of $646.00 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.2%. The firm is expected to report its next earnings report on Friday, March 16th.
According to Zacks, analysts expect that Verso will report full year sales of $637.95 million for the current financial year. For the next financial year, analysts anticipate 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 sell-side research analysts that that provide coverage for Verso.
VRS has been the subject of a number of recent analyst reports. B. Riley reissued a “buy” rating and set a $11.25 price objective on shares of Verso in a research report on Sunday, August 13th. Zacks Investment Research downgraded Verso from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. ValuEngine raised Verso from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, BWS Financial raised Verso from a “buy” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, October 18th.
Several large investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its position in shares of Verso 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 purchasing an additional 524,849 shares during the last quarter. Vanguard Group Inc. grew its position in Verso by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,265,919 shares of the basic materials company’s stock valued at $5,937,000 after acquiring an additional 58,642 shares in the last quarter. Aegis Financial Corp grew its position in Verso by 9.9% in the 2nd quarter. Aegis Financial Corp now owns 723,389 shares of the basic materials company’s stock valued at $3,393,000 after acquiring an additional 65,432 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Verso by 88.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 415,309 shares of the basic materials company’s stock valued at $2,114,000 after acquiring an additional 194,634 shares in the last quarter. Finally, B. Riley Financial Inc. acquired a new position in Verso in the 2nd quarter valued at about $1,853,000. 53.22% of the stock is owned by hedge funds and other institutional investors.
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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