Brokerages forecast that Veritiv Corp (NYSE:VRTV) will report earnings of $0.57 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Veritiv’s earnings. Veritiv posted earnings per share of $0.90 in the same quarter last year, which suggests a negative year over year growth rate of 36.7%. The business is expected to announce its next earnings results 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 year, analysts anticipate that the firm will post earnings of $1.50 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Veritiv.

Veritiv (NYSE:VRTV) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.04 billion. Veritiv had a negative net margin of 0.33% and a negative return on equity of 0.45%. Veritiv’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.67) EPS.

Several equities analysts have recently weighed in on VRTV shares. Zacks Investment Research lowered shares of Veritiv from a “hold” rating to a “sell” rating in a report on Friday, August 16th. ValuEngine downgraded shares of Veritiv from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Finally, Bank of America downgraded shares of Veritiv from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $37.00 to $26.00 in a research report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Veritiv presently has a consensus rating of “Hold” and a consensus price target of $33.33.

In other news, VP John G. Biscanti sold 2,500 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $19.09, for a total value of $47,725.00. Following the transaction, the vice president now owns 6,173 shares of the company’s stock, valued at approximately $117,842.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Veritiv by 9.5% during the 4th quarter. Bank of New York Mellon Corp now owns 139,730 shares of the basic materials company’s stock valued at $3,488,000 after acquiring an additional 12,106 shares during the period. Northern Trust Corp lifted its position in Veritiv by 4.8% during the 4th quarter. Northern Trust Corp now owns 154,373 shares of the basic materials company’s stock valued at $3,856,000 after acquiring an additional 7,077 shares during the period. Geode Capital Management LLC lifted its position in Veritiv by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 130,516 shares of the basic materials company’s stock valued at $3,258,000 after acquiring an additional 17,924 shares during the period. Principal Financial Group Inc. lifted its position in Veritiv by 13.3% during the 4th quarter. Principal Financial Group Inc. now owns 102,924 shares of the basic materials company’s stock valued at $2,570,000 after acquiring an additional 12,082 shares during the period. Finally, Bank of America Corp DE lifted its position in Veritiv by 50.4% during the 4th quarter. Bank of America Corp DE now owns 17,079 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 5,727 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE VRTV traded up $0.65 during trading on Friday, hitting $17.35. 13,197 shares of the company traded hands, compared to its average volume of 107,410. The business’s fifty day moving average is $17.15 and its 200 day moving average is $23.72. Veritiv has a fifty-two week low of $13.66 and a fifty-two week high of $49.45. The firm has a market capitalization of $278.69 million, a price-to-earnings ratio of 7.32 and a beta of 1.45. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.36 and a current ratio of 2.08.

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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