Verso Corp (VRS) Expected to Announce Earnings of $0.35 Per Share

Wall Street brokerages predict that Verso Corp (NYSE:VRS) will post $0.35 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Verso’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.10. Verso posted earnings of $0.03 per share in the same quarter last year, which indicates a positive year over year growth rate of 1,066.7%. The firm is expected to announce its next earnings report on Wednesday, May 8th.

On average, analysts expect that Verso will report full year earnings of $3.96 per share for the current fiscal year, with EPS estimates ranging from $3.24 to $4.68. For the next year, analysts anticipate that the company will report earnings of $3.43 per share. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Verso.

Verso (NYSE:VRS) last released its earnings results on Friday, March 1st. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.11. Verso had a net margin of 6.38% and a return on equity of 15.94%. The company had revenue of $695.00 million for the quarter, compared to the consensus estimate of $712.83 million.

A number of research analysts have issued reports on VRS shares. B. Riley downgraded shares of Verso from a “buy” rating to a “neutral” rating and cut their target price for the company from $32.00 to $26.00 in a research report on Friday, April 12th. Zacks Investment Research downgraded shares of Verso from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 12th. ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, TheStreet cut Verso from a “b-” rating to a “c” rating in a research note on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Verso currently has a consensus rating of “Hold” and a consensus target price of $33.33.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio lifted its holdings in shares of Verso by 20.6% during the first quarter. Strs Ohio now owns 36,900 shares of the basic materials company’s stock worth $790,000 after buying an additional 6,300 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Verso by 126.9% during the fourth quarter. American Century Companies Inc. now owns 232,735 shares of the basic materials company’s stock worth $5,213,000 after buying an additional 130,174 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Verso by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 498,710 shares of the basic materials company’s stock worth $11,170,000 after buying an additional 20,979 shares in the last quarter. Norges Bank acquired a new stake in shares of Verso during the fourth quarter worth $1,021,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Verso by 34.3% during the fourth quarter. Nordea Investment Management AB now owns 100,746 shares of the basic materials company’s stock worth $2,258,000 after buying an additional 25,746 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Verso stock opened at $21.71 on Wednesday. Verso has a 1 year low of $17.38 and a 1 year high of $34.60. The stock has a market cap of $748.56 million, a price-to-earnings ratio of 5.87 and a beta of 1.57.

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, 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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