Verso (VRS) PT Raised to $47.00

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Verso (NYSE:VRS) had its price target increased by B. Riley from $45.00 to $47.00 in a report released on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the basic materials company’s stock. B. Riley’s price objective points to a potential upside of 71.85% from the company’s previous close. B. Riley also issued estimates for Verso’s FY2019 earnings at $4.95 EPS.

VRS has been the topic of a number of other reports. BWS Financial raised their target price on shares of Verso from $32.00 to $40.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 8th. ValuEngine downgraded shares of Verso from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Zacks Investment Research downgraded shares of Verso from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th.

Shares of VRS opened at $27.35 on Thursday. The company has a market capitalization of $1.08 billion, a P/E ratio of -36.47 and a beta of 2.23. 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 1-year low of $7.00 and a 1-year high of $34.60.

Verso (NYSE:VRS) last announced its earnings results on Wednesday, November 7th. The basic materials company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.10). The company had revenue of $704.00 million during the quarter, compared to analysts’ expectations of $714.15 million. Verso had a net margin of 4.61% and a return on equity of 20.27%. On average, analysts anticipate that Verso will post 3.09 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of VRS. Acadian Asset Management LLC purchased a new position in shares of Verso during the second quarter worth approximately $28,408,000. Dimensional Fund Advisors LP raised its stake in shares of Verso by 29.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,008,102 shares of the basic materials company’s stock worth $43,696,000 after acquiring an additional 456,067 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Verso during the third quarter worth approximately $14,292,000. BlackRock Inc. raised its stake in shares of Verso by 22.2% during the first quarter. BlackRock Inc. now owns 2,044,192 shares of the basic materials company’s stock worth $34,424,000 after acquiring an additional 371,066 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Verso by 17.6% during the third quarter. JPMorgan Chase & Co. now owns 1,418,410 shares of the basic materials company’s stock worth $47,759,000 after acquiring an additional 211,933 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other 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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