Zacks: Brokerages Expect Veritiv (VRTV) to Announce $0.89 EPS

Brokerages expect Veritiv (NYSE:VRTV) to report $0.89 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Veritiv’s earnings. The lowest EPS estimate is $0.78 and the highest is $0.99. Veritiv posted earnings of $0.88 per share during the same quarter last year, which indicates a positive year over year growth rate of 1.1%. The firm is scheduled to report its next earnings report on Wednesday, August 1st.

On average, analysts expect that Veritiv will report full-year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.45 to $3.88. For the next year, analysts anticipate that the company will report earnings of $4.10 per share, with EPS estimates ranging from $3.95 to $4.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Veritiv.

Veritiv (NYSE:VRTV) last issued its quarterly earnings data on Tuesday, May 8th. The basic materials company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.15). Veritiv had a positive return on equity of 8.92% and a negative net margin of 0.32%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business earned ($0.14) earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis.

Several brokerages recently weighed in on VRTV. ValuEngine downgraded shares of Veritiv from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of Veritiv from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Saturday, February 3rd. Wells Fargo lifted their target price on shares of Veritiv from $30.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, April 2nd. They noted that the move was a valuation call. SunTrust Banks cut shares of Veritiv from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Bank of America cut shares of Veritiv from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $34.40.

Veritiv opened at $32.85 on Friday, MarketBeat Ratings reports. Veritiv has a 52-week low of $20.35 and a 52-week high of $46.10. The company has a market cap of $520.31 million, a PE ratio of -38.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.55. The company has a quick ratio of 1.60, a current ratio of 2.43 and a debt-to-equity ratio of 1.81.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Veritiv by 5.3% during the 4th quarter. BlackRock Inc. now owns 1,508,307 shares of the basic materials company’s stock valued at $43,589,000 after buying an additional 75,264 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Veritiv by 15.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 871,757 shares of the basic materials company’s stock valued at $34,173,000 after buying an additional 114,082 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Veritiv during the 1st quarter valued at about $13,010,000. Donald Smith & CO. Inc. raised its position in shares of Veritiv by 354.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 261,004 shares of the basic materials company’s stock valued at $7,543,000 after buying an additional 203,623 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Veritiv by 24.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 203,553 shares of the basic materials company’s stock valued at $7,980,000 after buying an additional 40,623 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Veritiv Company Profile

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.

Get a free copy of the Zacks research report on Veritiv (VRTV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Veritiv (NYSE:VRTV)

Receive News & Ratings for Veritiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply