Verso Corporation (VRS) Releases Earnings Results, Misses Estimates By $0.19 EPS
Verso Corporation (NYSE:VRS) issued its earnings results on Tuesday. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.19), reports. The business had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $632.69 million. Verso Corporation had a return on equity of 168.52% and a net margin of 47.46%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted ($1.16) earnings per share.
Shares of Verso Corporation (VRS) opened at $7.32 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.84 and a current ratio of 2.41. Verso Corporation has a fifty-two week low of $3.17 and a fifty-two week high of $8.43.
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A number of equities analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and set a $11.25 target price on shares of Verso Corporation in a research note on Thursday, November 9th. Zacks Investment Research raised Verso Corporation from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Tuesday, October 24th. BWS Financial raised Verso Corporation from a “buy” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research note on Wednesday, October 18th. Finally, ValuEngine raised Verso Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.
An institutional investor recently bought a new position in Verso Corporation stock. California State Teachers Retirement System purchased a new position in Verso Corporation (NYSE:VRS) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 59,700 shares of the basic materials company’s stock, valued at approximately $280,000. California State Teachers Retirement System owned 0.17% of Verso Corporation at the end of the most recent reporting period. Hedge funds and other institutional investors own 52.50% of the company’s stock.
Verso Corporation 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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