Analysts Expect Verso Co. (VRS) Will Announce Quarterly Sales of $639.95 Million

Wall Street analysts predict that Verso Co. (NYSE:VRS) will post sales of $639.95 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Verso’s earnings, with the lowest sales estimate coming in at $639.00 million and the highest estimate coming in at $640.90 million. Verso reported sales of $646.00 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.9%. The firm is scheduled to report its next earnings results on Friday, March 16th.

According to Zacks, analysts expect that Verso will report full-year sales of $639.95 million for the current financial year. For the next year, analysts expect that the firm will post sales of $2.57 billion per share, with estimates ranging from $2.53 billion to $2.60 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Verso.

Several equities analysts recently commented on the company. B. Riley raised Verso to a “buy” rating and set a $22.00 target price on the stock in a report on Friday, February 16th. Zacks Investment Research lowered Verso from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 25th. BWS Financial set a $20.00 target price on Verso and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, ValuEngine raised Verso from a “sell” rating to a “hold” rating in a report on Friday, February 2nd.

Verso (VRS) traded down $0.66 during trading hours on Friday, reaching $16.87. The company had a trading volume of 545,301 shares, compared to its average volume of 490,725. The stock has a market capitalization of $581.95, a price-to-earnings ratio of -10.19 and a beta of 2.02. The company has a quick ratio of 0.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.35. Verso has a 52-week low of $3.17 and a 52-week high of $18.12.

In other Verso news, major shareholder Mudrick Capital Management, L. sold 312,746 shares of the firm’s stock in a transaction dated 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 accessible through this hyperlink. In the last ninety days, insiders have sold 1,694,168 shares of company stock worth $28,568,340. Corporate insiders own 4.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in shares of Verso by 211.0% during the second quarter. Bank of New York Mellon Corp now owns 165,487 shares of the basic materials company’s stock worth $777,000 after purchasing an additional 112,269 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Verso during the fourth quarter worth about $8,377,000. Skylands Capital LLC purchased a new position in shares of Verso during the fourth quarter worth about $8,282,000. Northern Trust Corp grew its holdings in shares of Verso by 545.5% during the second quarter. Northern Trust Corp now owns 347,240 shares of the basic materials company’s stock worth $1,628,000 after purchasing an additional 293,450 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Verso during the second quarter worth about $275,000. 62.79% of the stock is currently owned by institutional investors.

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About Verso

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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