Zacks: Brokerages Anticipate Verso Corp (VRS) Will Announce Quarterly Sales of $714.15 Million

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Wall Street analysts expect Verso Corp (NYSE:VRS) to post $714.15 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Verso’s earnings. The highest sales estimate is $716.30 million and the lowest is $712.00 million. Verso reported sales of $621.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15%. The company is expected to issue its next quarterly earnings results on Tuesday, November 13th.

According to Zacks, analysts expect that Verso will report full year sales of $2.72 billion for the current financial year, with estimates ranging from $2.72 billion to $2.73 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.92 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Verso.

Verso (NYSE:VRS) last released its quarterly earnings data on Tuesday, August 7th. The basic materials company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The firm had revenue of $644.00 million for the quarter, compared to the consensus estimate of $632.42 million. Verso had a return on equity of 8.36% and a net margin of 1.53%.

Several analysts recently issued reports on the company. B. Riley raised their target price on Verso from $34.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research raised Verso from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Saturday, June 30th. Finally, BWS Financial raised their target price on Verso from $32.00 to $40.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 8th.

Shares of VRS traded up $0.40 during trading hours on Friday, hitting $33.57. The company had a trading volume of 339,696 shares, compared to its average volume of 426,703. The company has a market cap of $1.16 billion, a P/E ratio of -44.76 and a beta of 1.80. The company has a current ratio of 1.78, a quick ratio of 0.69 and a debt-to-equity ratio of 0.19. Verso has a 52-week low of $5.44 and a 52-week high of $34.60.

Several hedge funds and other institutional investors have recently bought and sold shares of VRS. Nisa Investment Advisors LLC bought a new stake in shares of Verso in the second quarter worth about $118,000. SG Americas Securities LLC bought a new stake in shares of Verso in the second quarter worth about $125,000. Sei Investments Co. grew its stake in shares of Verso by 188.2% in the first quarter. Sei Investments Co. now owns 11,005 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 7,186 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Verso in the first quarter worth about $221,000. Finally, Capital Fund Management S.A. bought a new stake in shares of Verso in the second quarter worth about $244,000. 86.21% of the stock is currently owned by institutional investors.

About Verso

Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, inkjet and digital, supercalendered, and uncoated freesheet papers; and northern bleached hardwood Kraft pulp to manufacture printing, writing, and specialty paper grades, as well as to manufacture tissue products.

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