Zacks: Brokerages Anticipate Veritiv Corp (NYSE:VRTV) to Announce -$1.22 Earnings Per Share

Brokerages expect Veritiv Corp (NYSE:VRTV) to report ($1.22) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Veritiv’s earnings. Veritiv posted earnings of $0.01 per share during the same quarter last year, which indicates a negative year over year growth rate of 12,300%. The firm is scheduled to report its next earnings report on Tuesday, August 4th.

On average, analysts expect that Veritiv will report full-year earnings of $0.45 per share for the current fiscal year. For the next year, analysts anticipate that the company will report earnings of $1.15 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Veritiv.

Veritiv (NYSE:VRTV) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.22) by $1.20. The firm had revenue of $1.71 billion for the quarter. Veritiv had a positive return on equity of 1.56% and a negative net margin of 0.04%.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Veritiv from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Saturday, May 16th. ValuEngine lowered Veritiv from a “sell” rating to a “strong sell” rating in a report on Thursday, April 2nd. Finally, Bank of America upgraded Veritiv from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $23.00 to $16.00 in a report on Friday, March 6th.

In related news, CEO Mary A. Laschinger purchased 3,000 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $9.30 per share, for a total transaction of $27,900.00. Following the completion of the transaction, the chief executive officer now directly owns 300,669 shares of the company’s stock, valued at approximately $2,796,221.70. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of VRTV. Nisa Investment Advisors LLC acquired a new position in Veritiv in the first quarter worth $31,000. Tower Research Capital LLC TRC boosted its stake in Veritiv by 264.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,867 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 1,355 shares in the last quarter. Royal Bank of Canada boosted its stake in Veritiv by 945.3% in the first quarter. Royal Bank of Canada now owns 6,167 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 5,577 shares in the last quarter. CENTRAL TRUST Co acquired a new position in Veritiv in the first quarter worth $79,000. Finally, Texas Permanent School Fund acquired a new position in Veritiv in the first quarter worth $85,000. 93.29% of the stock is currently owned by institutional investors.

NYSE:VRTV traded up $0.72 on Tuesday, hitting $15.94. 171,700 shares of the company’s stock traded hands, compared to its average volume of 143,726. The company has a current ratio of 2.24, a quick ratio of 1.54 and a debt-to-equity ratio of 1.40. Veritiv has a 1 year low of $5.70 and a 1 year high of $24.66. The firm has a 50-day moving average price of $14.14 and a 200-day moving average price of $13.18. The company has a market cap of $241.49 million, a PE ratio of -79.70 and a beta of 1.90.

About Veritiv

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.

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