Equities research analysts expect Veritiv Corp (NYSE:VRTV) to announce earnings of ($0.24) per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Veritiv’s earnings. Veritiv reported earnings of $0.01 per share during the same quarter last year, which indicates a negative year over year growth rate of 2,500%. The company is scheduled to announce its next earnings report on Tuesday, August 4th.
On average, analysts expect that Veritiv will report full year earnings of $0.45 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $1.15 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Veritiv.
Veritiv (NYSE:VRTV) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.22) by $1.20. The firm had revenue of $1.71 billion during the quarter. Veritiv had a positive return on equity of 1.56% and a negative net margin of 0.04%.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Veritiv from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research note on Saturday, May 16th. ValuEngine cut Veritiv from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Finally, Bank of America upgraded Veritiv from a “neutral” rating to a “buy” rating and reduced their target price for the company from $23.00 to $16.00 in a research note on Friday, March 6th.
In other news, CEO Mary A. Laschinger acquired 14,100 shares of Veritiv stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average cost of $9.17 per share, for a total transaction of $129,297.00. Following the completion of the purchase, the chief executive officer now directly owns 297,669 shares of the company’s stock, valued at approximately $2,729,624.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Daniel J. Watkoske acquired 5,000 shares of Veritiv stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average price of $8.50 per share, for a total transaction of $42,500.00. Following the completion of the purchase, the senior vice president now directly owns 76,607 shares of the company’s stock, valued at $651,159.50. The disclosure for this purchase can be found here. Insiders have purchased 22,100 shares of company stock worth $199,697 over the last 90 days. 2.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in Veritiv by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 406,950 shares of the basic materials company’s stock worth $8,005,000 after buying an additional 46,835 shares during the period. JPMorgan Chase & Co. increased its position in Veritiv by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 393,145 shares of the basic materials company’s stock worth $3,090,000 after buying an additional 1,317 shares during the period. Renaissance Technologies LLC increased its position in Veritiv by 29.8% in the fourth quarter. Renaissance Technologies LLC now owns 210,800 shares of the basic materials company’s stock worth $4,146,000 after buying an additional 48,400 shares during the period. Norges Bank acquired a new stake in Veritiv in the fourth quarter worth $3,980,000. Finally, Geode Capital Management LLC increased its position in Veritiv by 8.6% in the first quarter. Geode Capital Management LLC now owns 185,070 shares of the basic materials company’s stock worth $1,454,000 after buying an additional 14,614 shares during the period. 93.29% of the stock is currently owned by hedge funds and other institutional investors.
Veritiv stock opened at $22.68 on Tuesday. The stock has a market cap of $318.45 million, a P/E ratio of -113.40 and a beta of 1.90. The company has a current ratio of 2.24, a quick ratio of 1.54 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average of $10.51 and a 200-day moving average of $13.38. Veritiv has a 52 week low of $5.70 and a 52 week high of $24.66.
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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