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 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 -.

Shares of NYSE VRTV opened at $132.27 on Monday. The business’s 50 day moving average is $136.94 and its two-hundred day moving average is $123.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.96 and a quick ratio of 1.52. Veritiv has a 1-year low of $47.20 and a 1-year high of $158.99. The stock has a market capitalization of $1.94 billion, a P/E ratio of 10.21, a PEG ratio of 0.51 and a beta of 2.09.

Veritiv (NYSE:VRTVGet Rating) last issued its quarterly earnings data on Monday, May 9th. The basic materials company reported $5.12 earnings per share for the quarter, topping the consensus estimate of $3.73 by $1.39. Veritiv had a return on equity of 33.45% and a net margin of 2.82%. During the same quarter in the previous year, the company earned $1.28 EPS. As a group, equities research analysts anticipate that Veritiv will post 18.4 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on VRTV shares. StockNews.com started coverage on Veritiv in a research note on Thursday, March 31st. They set a strong-buy rating on the stock. Zacks Investment Research raised Veritiv from a hold rating to a strong-buy rating and set a $138.00 target price on the stock in a research note on Saturday, March 5th.

In other news, Director Stephen E. Macadam purchased 1,600 shares of the stock in a transaction that occurred on Tuesday, March 22nd. The stock was purchased at an average price of $126.53 per share, for a total transaction of $202,448.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in shares of Veritiv by 866.9% during the 4th quarter. Millennium Management LLC now owns 147,335 shares of the basic materials company’s stock valued at $18,059,000 after purchasing an additional 132,097 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Veritiv by 50.4% during the 1st quarter. Invesco Ltd. now owns 222,863 shares of the basic materials company’s stock valued at $29,772,000 after purchasing an additional 74,654 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Veritiv by 187.3% during the 2nd 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $18,504,000 after purchasing an additional 39,551 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Veritiv by 17.6% during 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. Institutional investors own 88.32% of the company’s stock.

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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