Verso Co. (VRS) Announces Quarterly Earnings Results, Hits Estimates
Verso Co. (NYSE:VRS) posted its earnings results on Thursday. The basic materials company reported ($0.61) EPS for the quarter, meeting the consensus estimate of ($0.61). The business had revenue of $616 million during the quarter, compared to analysts’ expectations of $615.50 million.
Verso (NYSE:VRS) opened at 3.86 on Friday. The stock’s market cap is $132.75 million. The firm’s 50 day moving average price is $5.61 and its 200 day moving average price is $6.43. Verso has a one year low of $3.66 and a one year high of $13.60.
VRS has been the topic of several recent analyst reports. Zacks Investment Research raised Verso from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th. B. Riley initiated coverage on Verso in a report on Thursday, April 27th. They issued a “buy” rating and a $11.25 target price on the stock. Finally, ValuEngine lowered Verso from a “buy” rating to a “hold” rating in a report on Thursday.
Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Verso by 55.4% in the first quarter. Goldman Sachs Group Inc. now owns 331,203 shares of the basic materials company’s stock valued at $1,987,000 after buying an additional 118,104 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in Verso during the first quarter valued at $147,000. Aegis Financial Corp increased its stake in Verso by 0.4% in the first quarter. Aegis Financial Corp now owns 657,957 shares of the basic materials company’s stock valued at $3,948,000 after buying an additional 2,724 shares during the last quarter. KCG Holdings Inc. bought a new stake in Verso during the first quarter valued at $170,000. Finally, Renaissance Technologies LLC bought a new stake in Verso during the first quarter valued at $694,000. 64.32% of the stock is owned by institutional investors.
Verso Company Profile
Verso Corporation is a producer of coated papers, which are used in magazines, catalogs, advertising brochures and annual reports, among other media and marketing publications. The Company operates through two segments: paper and pulp. The Paper segment includes paper products, which are used in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as advertising brochures, annual reports and direct-mail advertising.
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