Verso Co. (NYSE:VRS) – Investment analysts at BWS Financial increased their Q2 2018 earnings per share (EPS) estimates for Verso in a research report issued to clients and investors on Wednesday. BWS Financial analyst H. Khorsand now anticipates that the basic materials company will earn $0.90 per share for the quarter, up from their prior estimate of $0.88. BWS Financial has a “Buy” rating and a $20.00 price objective on the stock. BWS Financial also issued estimates for Verso’s Q3 2018 earnings at $1.20 EPS, Q4 2018 earnings at $0.83 EPS and FY2018 earnings at $4.11 EPS.
Verso (NYSE:VRS) last announced its quarterly earnings results on Tuesday, November 14th. The basic materials company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.15). The firm had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $632.65 million. Verso had a negative return on equity of 6.58% and a negative net margin of 2.35%.
Shares of Verso (VRS) opened at $15.11 on Monday. The company has a market capitalization of $515.04 and a P/E ratio of -8.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 2.15. Verso has a 52 week low of $3.17 and a 52 week high of $18.12.
In other news, major shareholder Mudrick Capital Management, L. sold 312,746 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $16.63, for a total transaction of $5,200,965.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 1,286,595 shares of company stock worth $21,508,948 in the last three months. Corporate insiders own 4.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership purchased a new stake in Verso in the 4th quarter valued at approximately $3,659,000. Virtu Financial LLC purchased a new stake in Verso in the 4th quarter valued at approximately $438,000. BlackRock Inc. lifted its stake in Verso by 4.0% in the 4th quarter. BlackRock Inc. now owns 1,673,126 shares of the basic materials company’s stock valued at $29,396,000 after buying an additional 63,739 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Verso by 20.0% in the 4th quarter. Bank of New York Mellon Corp now owns 192,898 shares of the basic materials company’s stock valued at $3,389,000 after buying an additional 32,190 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Verso by 20.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 26,092 shares of the basic materials company’s stock valued at $458,000 after buying an additional 4,493 shares in the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.
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Verso 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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