Verso (NYSE:VRS) Given a $29.00 Price Target at B. Riley

Verso (NYSE:VRS) has been assigned a $29.00 target price by stock analysts at B. Riley in a note issued to investors on Monday, August 6th. The brokerage currently has a “buy” rating on the basic materials company’s stock. B. Riley’s price objective indicates a potential downside of 7.61% from the company’s current price. B. Riley also issued estimates for Verso’s Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.83 EPS, FY2018 earnings at $1.37 EPS and FY2019 earnings at $2.02 EPS.

VRS has been the subject of a number of other reports. ValuEngine upgraded Verso from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded Verso from a “hold” rating to a “sell” rating in a research note on Friday, April 20th.

Verso stock traded up $0.71 during midday trading on Monday, hitting $31.39. 1,221,500 shares of the company were exchanged, compared to its average volume of 407,001. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 1.78. Verso has a fifty-two week low of $4.83 and a fifty-two week high of $31.53. The firm has a market capitalization of $1.04 billion, a PE ratio of -41.33 and a beta of 1.05.

Verso (NYSE:VRS) last posted its quarterly earnings data on Tuesday, August 7th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Verso had a return on equity of 8.36% and a net margin of 1.53%. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $632.42 million. analysts forecast that Verso will post 2.01 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its position in Verso by 7.0% during the 2nd quarter. Macquarie Group Ltd. now owns 42,600 shares of the basic materials company’s stock worth $927,000 after acquiring an additional 2,800 shares during the period. Bank of America Corp DE lifted its holdings in shares of Verso by 36.0% in the second quarter. Bank of America Corp DE now owns 26,308 shares of the basic materials company’s stock valued at $573,000 after buying an additional 6,957 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Verso in the second quarter valued at $244,000. Citadel Advisors LLC lifted its holdings in shares of Verso by 103.3% in the second quarter. Citadel Advisors LLC now owns 48,144 shares of the basic materials company’s stock valued at $1,048,000 after buying an additional 24,464 shares during the period. Finally, Tiverton Asset Management LLC acquired a new stake in shares of Verso in the second quarter valued at $335,000. Institutional investors own 86.31% of the company’s stock.

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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