Brokerages Expect Veritiv Corp (NYSE:VRTV) to Announce $0.57 EPS

Brokerages expect Veritiv Corp (NYSE:VRTV) to report $0.57 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Veritiv’s earnings. Veritiv reported earnings of $0.90 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 36.7%. The firm is scheduled to report its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Veritiv will report full-year earnings of ($1.10) per share for the current financial year. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.50 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Veritiv.

Veritiv (NYSE:VRTV) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.11). The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Veritiv had a negative return on equity of 0.45% and a negative net margin of 0.33%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.67) earnings per share.

Several brokerages have commented on VRTV. Zacks Investment Research upgraded Veritiv from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. ValuEngine upgraded Veritiv from a “strong sell” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Veritiv presently has a consensus rating of “Hold” and a consensus price target of $33.33.

A number of large investors have recently made changes to their positions in VRTV. Invesco Ltd. increased its stake in Veritiv by 126.6% during the second quarter. Invesco Ltd. now owns 454,374 shares of the basic materials company’s stock worth $8,824,000 after acquiring an additional 253,838 shares during the last quarter. BlackRock Inc. increased its stake in Veritiv by 7.6% during the second quarter. BlackRock Inc. now owns 1,964,865 shares of the basic materials company’s stock worth $38,158,000 after acquiring an additional 139,587 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Veritiv by 42.4% in the first quarter. JPMorgan Chase & Co. now owns 433,601 shares of the basic materials company’s stock valued at $11,413,000 after buying an additional 129,074 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of Veritiv in the second quarter valued at about $947,000. Finally, Morgan Stanley grew its stake in shares of Veritiv by 63.6% in the second quarter. Morgan Stanley now owns 96,886 shares of the basic materials company’s stock valued at $1,881,000 after buying an additional 37,653 shares in the last quarter. Institutional investors own 91.71% of the company’s stock.

NYSE:VRTV traded down $0.54 on Tuesday, hitting $15.58. 3,427 shares of the stock were exchanged, compared to its average volume of 135,824. The stock has a market cap of $279.97 million, a PE ratio of 6.52 and a beta of 1.49. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 1.57. The stock has a fifty day moving average of $17.09 and a 200-day moving average of $20.51. Veritiv has a fifty-two week low of $13.66 and a fifty-two week high of $37.02.

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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