Brokerages Expect Veritiv Corp (NYSE:VRTV) to Post $0.57 EPS
Wall Street analysts expect Veritiv Corp (NYSE:VRTV) to report earnings per share of $0.57 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Veritiv’s earnings. Veritiv posted earnings of $0.90 per share in the same quarter last year, which would suggest a negative year over year growth rate of 36.7%. The business is scheduled to announce its next 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 fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of $1.50 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Veritiv.
Veritiv (NYSE:VRTV) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). The company 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%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.67) EPS.
Shares of VRTV stock traded down $0.06 on Friday, hitting $18.47. The company had a trading volume of 317,500 shares, compared to its average volume of 92,501. The firm has a market cap of $278.36 million, a P/E ratio of 7.79 and a beta of 1.42. The stock’s 50-day moving average is $16.74 and its two-hundred day moving average is $21.69. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.36 and a current ratio of 2.08. Veritiv has a twelve month low of $13.66 and a twelve month high of $49.28.
In related news, VP John G. Biscanti sold 2,500 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $19.09, for a total transaction of $47,725.00. Following the sale, the vice president now owns 6,173 shares in the company, valued at approximately $117,842.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in VRTV. Bank of America Corp DE boosted its position in shares of 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 purchasing an additional 5,727 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Veritiv by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,433 shares of the basic materials company’s stock worth $30,299,000 after acquiring an additional 125,213 shares in the last quarter. Deutsche Bank AG boosted its holdings in Veritiv by 103.6% in the fourth quarter. Deutsche Bank AG now owns 48,253 shares of the basic materials company’s stock worth $1,202,000 after acquiring an additional 24,550 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Veritiv by 88.8% in the first quarter. BNP Paribas Arbitrage SA now owns 2,679 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in Veritiv by 151.6% in the first quarter. Moors & Cabot Inc. now owns 21,968 shares of the basic materials company’s stock worth $580,000 after acquiring an additional 13,238 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.
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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