Verso (NYSE:VRS) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Verso (NYSE:VRSGet Rating) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the basic materials company’s stock.

A number of other research firms also recently commented on VRS. BWS Financial downgraded shares of Verso from a “top pick” rating to a “neutral” rating in a research note on Tuesday, December 28th. Zacks Investment Research raised shares of Verso from a “sell” rating to a “hold” rating in a research note on Friday, February 25th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.33.

NYSE:VRS opened at $26.99 on Friday. The firm has a market cap of $786.89 million, a price-to-earnings ratio of 207.62 and a beta of 1.91. The company’s 50-day moving average is $26.75 and its two-hundred day moving average is $24.39. Verso has a 12-month low of $14.01 and a 12-month high of $27.29.

Verso (NYSE:VRSGet Rating) last released its earnings results on Monday, February 28th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. Verso had a negative net margin of 0.23% and a positive return on equity of 15.98%. The company had revenue of $328.00 million for the quarter, compared to analyst estimates of $298.41 million. As a group, equities analysts predict that Verso will post 2.34 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in Verso in the third quarter valued at approximately $243,000. Koshinski Asset Management Inc. acquired a new stake in Verso in the fourth quarter valued at approximately $50,000. LSV Asset Management grew its position in Verso by 112.1% in the fourth quarter. LSV Asset Management now owns 85,044 shares of the basic materials company’s stock valued at $2,298,000 after acquiring an additional 44,944 shares in the last quarter. Jump Financial LLC acquired a new stake in Verso in the third quarter valued at approximately $324,000. Finally, Invesco Ltd. grew its position in Verso by 3.0% in the third quarter. Invesco Ltd. now owns 121,035 shares of the basic materials company’s stock valued at $2,512,000 after acquiring an additional 3,484 shares in the last quarter. 81.35% of the stock is owned by hedge funds and other institutional investors.

About Verso (Get Rating)

Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated and uncoated freesheet, coated groundwood, supercalendered, specialty, and packaging papers; and pulp to manufacture printing, writing and specialty paper grades, and tissue and other products.

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