Veritiv Corporation (VRTV) Announces Earnings Results
Veritiv Corporation (NYSE:VRTV) issued its earnings results on Tuesday. The basic materials company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($2.02), Briefing.com reports. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the firm earned $0.34 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year.
Veritiv Corporation (NYSE:VRTV) traded down $6.60 during midday trading on Tuesday, hitting $25.90. The company had a trading volume of 515,512 shares, compared to its average volume of 66,281. Veritiv Corporation has a fifty-two week low of $25.85 and a fifty-two week high of $62.60. The company has a quick ratio of 1.55, a current ratio of 2.43 and a debt-to-equity ratio of 1.46. The firm has a market cap of $415.27, a PE ratio of 17.15, a PEG ratio of 0.79 and a beta of 1.14.
Several analysts have recently issued reports on VRTV shares. BidaskClub downgraded Veritiv Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Bank of America Corporation downgraded Veritiv Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $64.00 to $36.00 in a research note on Thursday, August 3rd. SunTrust Banks, Inc. upgraded Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Thursday, August 3rd. They noted that the move was a valuation call. Barclays PLC decreased their price target on Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating for the company in a research note on Monday, August 7th. Finally, Zacks Investment Research downgraded Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.20.
In other Veritiv Corporation news, Chairman Mary A. Laschinger acquired 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired at an average price of $30.22 per share, with a total value of $99,726.00. Following the transaction, the chairman now owns 63,993 shares of the company’s stock, valued at $1,933,868.46. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by insiders.
About Veritiv Corporation
Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.
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