Brokerages Expect Veritiv Corp (VRTV) Will Post Quarterly Sales of $2.15 Billion

Analysts forecast that Veritiv Corp (NYSE:VRTV) will announce $2.15 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Veritiv’s earnings, with the lowest sales estimate coming in at $2.11 billion and the highest estimate coming in at $2.18 billion. Veritiv reported sales of $2.12 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.4%. The firm is expected to issue its next quarterly earnings results on Tuesday, March 13th.

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

Veritiv (NYSE:VRTV) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $1.13 EPS for the quarter, beating 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 have recently issued reports on VRTV shares. BidaskClub cut shares of Veritiv from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. ValuEngine cut shares of Veritiv from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. SunTrust Banks cut shares of Veritiv from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Zacks Investment Research raised shares of Veritiv from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Saturday. 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Veritiv has a consensus rating of “Hold” and an average target price of $31.75.

In related news, Director Charles Ward purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $23.63 per share, for a total transaction of $472,600.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $472,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tracy A. Leinbach purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average price of $23.69 per share, for a total transaction of $118,450.00. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Baupost Group LLC MA raised its stake in Veritiv by 0.3% during the 3rd quarter. Baupost Group LLC MA now owns 3,053,724 shares of the basic materials company’s stock worth $99,246,000 after acquiring an additional 9,339 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Veritiv during the 2nd quarter worth $55,381,000. Dimensional Fund Advisors LP raised its stake in Veritiv by 10.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 696,156 shares of the basic materials company’s stock worth $22,626,000 after acquiring an additional 67,374 shares in the last quarter. Vanguard Group Inc. raised its stake in Veritiv by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 589,334 shares of the basic materials company’s stock worth $26,521,000 after acquiring an additional 6,346 shares in the last quarter. Finally, State Street Corp raised its stake in Veritiv by 15.2% during the 2nd quarter. State Street Corp now owns 248,552 shares of the basic materials company’s stock worth $11,193,000 after acquiring an additional 32,835 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Veritiv (NYSE VRTV) opened at $23.85 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.36 and a quick ratio of 1.51. Veritiv has a 1 year low of $20.35 and a 1 year high of $62.60. The company has a market cap of $400.36, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02.

COPYRIGHT VIOLATION WARNING: This story was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/02/07/brokerages-expect-veritiv-corp-vrtv-will-post-quarterly-sales-of-2-15-billion.html.

About Veritiv

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.

Get a free copy of the Zacks research report on Veritiv (VRTV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Veritiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply