Zacks: Brokerages Expect Veritiv Corp (VRTV) to Post $0.78 Earnings Per Share
Equities analysts forecast that Veritiv Corp (NYSE:VRTV) will announce earnings per share (EPS) of $0.78 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Veritiv’s earnings, with estimates ranging from $0.54 to $1.10. Veritiv reported earnings of $0.26 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 200%. The firm is scheduled to announce its next earnings report on Tuesday, March 13th.
According to Zacks, analysts expect that Veritiv will report full year earnings of ($0.94) per share for the current year, with EPS estimates ranging from ($1.10) to ($0.76). For the next year, analysts forecast that the firm will report earnings of $2.29 per share, with EPS estimates ranging from $1.25 to $3.18. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Veritiv.
VRTV has been the subject of several research analyst reports. SunTrust Banks upgraded Veritiv from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Thursday, August 3rd. They noted that the move was a valuation call. Bank of America lowered Veritiv from a “buy” rating to a “neutral” rating and cut their price objective for the company from $64.00 to $36.00 in a report on Thursday, August 3rd. William Blair lowered Veritiv from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded Veritiv from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Barclays reduced their target price on Veritiv from $35.00 to $25.00 and set an “underweight” rating for the company in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $33.00.
Shares of Veritiv (VRTV) traded down $0.60 during trading on Tuesday, hitting $26.65. The stock had a trading volume of 66,724 shares, compared to its average volume of 112,904. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.51 and a current ratio of 2.36. The firm has a market capitalization of $418.41, a price-to-earnings ratio of 9.94 and a beta of 1.14. Veritiv has a twelve month low of $20.35 and a twelve month high of $62.60.
In related news, Director Charles Ward bought 20,000 shares of Veritiv 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 completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $472,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mary A. Laschinger bought 3,300 shares of Veritiv stock in a transaction dated Tuesday, September 12th. The shares were bought at an average cost of $30.22 per share, with a total value of $99,726.00. Following the completion of the acquisition, the chairman now owns 63,993 shares of the company’s stock, valued at $1,933,868.46. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 28,300 shares of company stock valued at $690,776. 0.25% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of VRTV. Alliancebernstein L.P. raised its position in Veritiv by 14.1% during the first quarter. Alliancebernstein L.P. now owns 4,834 shares of the basic materials company’s stock valued at $250,000 after buying an additional 598 shares during the period. Vanguard Group Inc. raised its position in Veritiv by 28.1% during the first quarter. Vanguard Group Inc. now owns 582,988 shares of the basic materials company’s stock valued at $30,199,000 after buying an additional 127,926 shares during the period. Geode Capital Management LLC raised its position in Veritiv by 27.2% during the first quarter. Geode Capital Management LLC now owns 93,120 shares of the basic materials company’s stock valued at $4,823,000 after buying an additional 19,895 shares during the period. Dimensional Fund Advisors LP raised its position in Veritiv by 16.3% during the first quarter. Dimensional Fund Advisors LP now owns 477,575 shares of the basic materials company’s stock valued at $24,737,000 after buying an additional 67,030 shares during the period. Finally, Renaissance Technologies LLC raised its position in Veritiv by 154.6% during the first quarter. Renaissance Technologies LLC now owns 35,900 shares of the basic materials company’s stock valued at $1,860,000 after buying an additional 21,800 shares during the period. 90.10% of the stock is currently owned by hedge funds and other institutional investors.
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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