Veritiv (NYSE:VRTV) Releases FY 2022 Earnings Guidance

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

A number of research analysts have recently issued reports on the company. StockNews.com assumed coverage on Veritiv in a research note on Thursday, March 31st. They set 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.

Shares of VRTV opened at $143.47 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.96 and a debt-to-equity ratio of 0.75. Veritiv has a fifty-two week low of $45.00 and a fifty-two week high of $158.99. The company has a market cap of $2.11 billion, a P/E ratio of 11.08, a PEG ratio of 0.52 and a beta of 2.09. The firm’s 50 day moving average price is $134.56 and its 200 day moving average price is $122.41.

Veritiv (NYSE:VRTVGet Rating) last issued its quarterly earnings results on Monday, May 9th. The basic materials company reported $5.12 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $1.39. Veritiv had a net margin of 2.82% and a return on equity of 33.45%. During the same quarter in the prior year, the firm earned $1.28 earnings per share. Research analysts forecast that Veritiv will post 18.4 earnings per share for the current year.

In related news, Director Stephen E. Macadam purchased 1,600 shares of the stock in a transaction on Tuesday, March 22nd. The shares were bought at an average price of $126.53 per share, for a total transaction of $202,448.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in VRTV. Charles Schwab Investment Management Inc. increased its position in shares of Veritiv by 40.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 138,510 shares of the basic materials company’s stock worth $18,504,000 after purchasing an additional 39,551 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Veritiv by 243.4% in the 1st quarter. Lazard Asset Management LLC now owns 910 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 645 shares in the last quarter. Federated Hermes Inc. increased its holdings in Veritiv by 1.9% in the 1st quarter. Federated Hermes Inc. now owns 70,832 shares of the basic materials company’s stock worth $9,462,000 after purchasing an additional 1,317 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Veritiv by 0.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 60,700 shares of the basic materials company’s stock valued at $8,109,000 after buying an additional 305 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Veritiv by 3.3% in the first quarter. Mackenzie Financial Corp now owns 2,254 shares of the basic materials company’s stock worth $301,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 88.32% of the company’s stock.

Veritiv Company Profile (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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