Veritiv Corp (VRTV) Expected to Post Quarterly Sales of $2.15 Billion

Analysts expect Veritiv Corp (NYSE:VRTV) to post sales of $2.15 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Veritiv’s earnings, with the highest sales estimate coming in at $2.18 billion and the lowest estimate coming in at $2.11 billion. Veritiv posted sales of $2.12 billion during the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The company is expected to announce its next earnings results on Tuesday, March 13th.

On average, analysts expect that Veritiv will report full-year sales of $2.15 billion for the current year, with estimates ranging from $8.25 billion to $8.32 billion. For the next fiscal year, analysts expect that the firm will post sales of $8.36 billion per share, with estimates ranging from $8.30 billion to $8.41 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Veritiv.

Veritiv (NYSE:VRTV) last released its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.02. Veritiv had a negative net margin of 0.26% and a positive return on equity of 7.71%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Veritiv from a “sell” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, October 5th. BidaskClub upgraded shares of Veritiv from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. ValuEngine cut shares of Veritiv from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Bank of America cut their price objective on shares of Veritiv from $36.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Finally, Wells Fargo & Co cut shares of Veritiv from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Veritiv has an average rating of “Hold” and a consensus target price of $33.00.

In other Veritiv news, Director Tracy A. Leinbach acquired 5,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $23.69 per share, with a total value of $118,450.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Ward acquired 20,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $23.63 per share, with a total value of $472,600.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $472,600. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial For Lutherans boosted its stake in shares of Veritiv by 3.9% in the second quarter. Thrivent Financial For Lutherans now owns 6,860 shares of the basic materials company’s stock valued at $309,000 after purchasing an additional 260 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Veritiv by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,295 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 344 shares during the period. Nordea Investment Management AB boosted its stake in shares of Veritiv by 0.9% in the second quarter. Nordea Investment Management AB now owns 46,000 shares of the basic materials company’s stock valued at $2,070,000 after purchasing an additional 400 shares during the period. California Public Employees Retirement System boosted its stake in shares of Veritiv by 2.5% in the second quarter. California Public Employees Retirement System now owns 49,603 shares of the basic materials company’s stock valued at $2,232,000 after purchasing an additional 1,200 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Veritiv by 49.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,420 shares of the basic materials company’s stock valued at $199,000 after purchasing an additional 1,469 shares during the period. 89.98% of the stock is owned by institutional investors and hedge funds.

Veritiv (NYSE:VRTV) traded up $0.25 during trading on Friday, reaching $28.60. 89,431 shares of the company traded hands, compared to its average volume of 66,974. Veritiv has a 52-week low of $20.35 and a 52-week high of $62.60. The firm has a market capitalization of $449.02, a PE ratio of -20.88, a P/E/G ratio of 1.17 and a beta of 1.10. The company has a current ratio of 2.36, a quick ratio of 1.51 and a debt-to-equity ratio of 1.81.

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Veritiv Company Profile

Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.

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