Verso Corporation (NYSE:VRS) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.19), reports. Verso Corporation had a net margin of 47.46% and a return on equity of 168.52%. The firm had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $632.69 million. During the same period in the prior year, the firm earned ($1.16) EPS. Verso Corporation’s revenue for the quarter was up 7.4% compared to the same quarter last year.
Verso Corporation (NYSE:VRS) opened at $7.86 on Wednesday. Verso Corporation has a 1-year low of $3.17 and a 1-year high of $8.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.41 and a quick ratio of 0.84.
An institutional investor recently raised its position in Verso Corporation stock. State Street Corp lifted its stake in Verso Corporation (NYSE:VRS) by 1,555.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 355,940 shares of the basic materials company’s stock after buying an additional 334,440 shares during the quarter. State Street Corp owned approximately 1.03% of Verso Corporation worth $1,671,000 at the end of the most recent reporting period. Institutional investors own 52.50% of the company’s stock.
VRS has been the topic of several analyst reports. B. Riley set a $11.00 price target on shares of Verso Corporation and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of Verso Corporation from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a report on Tuesday, October 24th. ValuEngine raised shares of Verso Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, BWS Financial raised shares of Verso Corporation from a “buy” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a report on Wednesday, October 18th.
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Verso Corporation Company Profile
Verso Corporation is a producer of coated papers, which are used in magazines, catalogs, advertising brochures and annual reports, among other media and marketing publications. The Company operates through two segments: paper and pulp. The Paper segment includes paper products, which are used in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as advertising brochures, annual reports and direct-mail advertising.
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