Zacks: Brokerages Anticipate Veritiv Co. (NYSE:VRTV) Will Announce Earnings of $3.73 Per Share

Equities analysts expect that Veritiv Co. (NYSE:VRTVGet Rating) will post earnings per share of $3.73 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Veritiv’s earnings. Veritiv reported earnings of $1.28 per share during the same quarter last year, which indicates a positive year over year growth rate of 191.4%. The business is expected to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Veritiv will report full year earnings of $14.70 per share for the current financial year. For the next year, analysts anticipate that the business will post earnings of $14.60 per share. Zacks’ EPS calculations are an average based on a survey of research firms that cover Veritiv.

Veritiv (NYSE:VRTVGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $1.01. The firm had revenue of $1.86 billion for the quarter. Veritiv had a return on equity of 25.21% and a net margin of 2.11%. During the same period in the prior year, the business earned $1.90 EPS.

A number of equities research analysts have recently issued reports on VRTV shares. Zacks Investment Research upgraded Veritiv from a “hold” rating to a “strong-buy” rating and set a $138.00 price objective for the company in a report on Saturday, March 5th. StockNews.com assumed coverage on shares of Veritiv in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company.

In other news, Director Stephen E. Macadam purchased 1,600 shares of the business’s stock in a transaction on Tuesday, March 22nd. The shares were acquired at an average price of $126.53 per share, with a total value of $202,448.00. The purchase was disclosed in a 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 and other institutional investors have recently made changes to their positions in the company. SummerHaven Investment Management LLC raised its holdings in shares of Veritiv by 4.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 14,493 shares of the basic materials company’s stock worth $1,936,000 after acquiring an additional 625 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Veritiv by 25.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,564 shares of the basic materials company’s stock worth $2,213,000 after acquiring an additional 3,353 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Veritiv by 142.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,330 shares of the basic materials company’s stock worth $312,000 after acquiring an additional 1,367 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Veritiv by 69.9% in the 1st quarter. Victory Capital Management Inc. now owns 12,958 shares of the basic materials company’s stock worth $1,821,000 after acquiring an additional 5,329 shares during the last quarter. Finally, Beck Bode LLC acquired a new stake in shares of Veritiv in the 1st quarter worth about $983,000. Hedge funds and other institutional investors own 88.32% of the company’s stock.

Veritiv stock opened at $145.45 on Friday. Veritiv has a 52 week low of $43.92 and a 52 week high of $158.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.37 and a current ratio of 1.92. The stock has a market capitalization of $2.19 billion, a P/E ratio of 15.97, a PEG ratio of 0.54 and a beta of 2.09. The stock has a 50-day simple moving average of $132.73 and a 200 day simple moving average of $121.14.

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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