Veritiv (NYSE:VRTV) Issues FY 2022 Earnings Guidance

Veritiv (NYSE:VRTVGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $18.00-$21.00 for the period, compared to the consensus EPS estimate of $14.70. The company issued revenue guidance of -.

NYSE VRTV traded down $1.70 during trading hours on Monday, hitting $143.75. The company’s stock had a trading volume of 1,107 shares, compared to its average volume of 95,494. The company’s 50 day simple moving average is $132.73 and its two-hundred day simple moving average is $121.14. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.92 and a quick ratio of 1.37. The company has a market cap of $2.16 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.55 and a beta of 2.09. Veritiv has a 12 month low of $43.92 and a 12 month high of $158.99.

Veritiv (NYSE:VRTVGet Rating) last posted its earnings results on Tuesday, March 1st. The basic materials company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $1.01. The business had revenue of $1.86 billion during the quarter. Veritiv had a net margin of 2.11% and a return on equity of 25.21%. During the same period last year, the firm posted $1.90 EPS. As a group, research analysts predict that Veritiv will post 14.7 earnings per share for the current fiscal year.

VRTV has been the topic of several research reports. StockNews.com began coverage on Veritiv in a research report on Thursday, March 31st. They issued a strong-buy rating on the stock. Zacks Investment Research raised shares of Veritiv from a hold rating to a strong-buy rating and set a $138.00 target price for the company in a report on Saturday, March 5th.

In other news, Director Stephen E. Macadam bought 1,600 shares of Veritiv stock in a transaction dated Tuesday, March 22nd. The shares were purchased at an average cost of $126.53 per share, with a total value of $202,448.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC lifted its holdings in shares of Veritiv by 866.9% in the 4th quarter. Millennium Management LLC now owns 147,335 shares of the basic materials company’s stock valued at $18,059,000 after acquiring an additional 132,097 shares during the last quarter. Morgan Stanley raised its position in Veritiv by 187.3% during the second quarter. Morgan Stanley now owns 95,524 shares of the basic materials company’s stock valued at $5,866,000 after purchasing an additional 62,270 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Veritiv by 17.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 155,172 shares of the basic materials company’s stock valued at $13,897,000 after purchasing an additional 23,180 shares during the last quarter. Norges Bank purchased a new position in shares of Veritiv in the 4th quarter worth approximately $2,176,000. Finally, State Street Corp increased its position in shares of Veritiv by 2.7% during the 4th quarter. State Street Corp now owns 487,251 shares of the basic materials company’s stock valued at $59,722,000 after purchasing an additional 12,836 shares during the last quarter. 88.32% of the stock is owned by hedge funds and other institutional investors.

About Veritiv (Get Rating)

Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. The Packaging segment provides custom and standard packaging solutions.

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