Verso Corp (VRS) Expected to Announce Earnings of $0.32 Per Share

Wall Street brokerages expect Verso Corp (NYSE:VRS) to report earnings of $0.32 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Verso’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.03. Verso reported earnings of $0.03 per share in the same quarter last year, which indicates a positive year over year growth rate of 966.7%. The company is expected to announce its next quarterly earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that Verso will report full year earnings of $3.86 per share for the current fiscal year, with EPS estimates ranging from $3.04 to $4.68. For the next year, analysts forecast that the company will post earnings of $3.38 per share. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Verso.

A number of equities analysts have issued reports on VRS shares. B. Riley restated a “buy” rating and set a $47.00 target price on shares of Verso in a research report on Tuesday, February 26th. Zacks Investment Research cut shares of Verso from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 6th. ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, TheStreet cut shares of Verso from a “b-” rating to a “c” rating in a research report on Tuesday, January 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Verso has an average rating of “Hold” and a consensus price target of $40.33.

VRS traded up $0.37 during midday trading on Monday, reaching $21.42. 347,017 shares of the company’s stock were exchanged, compared to its average volume of 418,075. The stock has a market cap of $725.89 million, a P/E ratio of 5.79 and a beta of 1.56. Verso has a 1-year low of $15.52 and a 1-year high of $34.60.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Verso by 53.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,106 shares of the basic materials company’s stock valued at $47,000 after buying an additional 737 shares during the last quarter. Legal & General Group Plc raised its position in shares of Verso by 24.3% in the fourth quarter. Legal & General Group Plc now owns 6,504 shares of the basic materials company’s stock valued at $145,000 after buying an additional 1,272 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Verso by 191.8% in the fourth quarter. Meeder Asset Management Inc. now owns 2,197 shares of the basic materials company’s stock valued at $49,000 after buying an additional 1,444 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Verso by 3.8% in the fourth quarter. Squarepoint Ops LLC now owns 57,720 shares of the basic materials company’s stock valued at $1,293,000 after buying an additional 2,094 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC acquired a new position in shares of Verso in the third quarter valued at approximately $71,000. Institutional investors own 92.77% of the company’s stock.

Verso Company Profile

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, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.

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