Brokerages Anticipate Veritiv Corp (VRTV) Will Post Quarterly Sales of $2.15 Billion

Wall Street analysts forecast that Veritiv Corp (NYSE:VRTV) will report $2.15 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Veritiv’s earnings, with the highest sales estimate coming in at $2.18 billion and the lowest estimate coming in at $2.11 billion. Veritiv posted sales of $2.12 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.4%. The business is scheduled to announce its next quarterly earnings results on Tuesday, March 13th.

On average, analysts expect that Veritiv will report full year sales of $2.15 billion for the current fiscal year, with estimates ranging from $8.25 billion to $8.32 billion. For the next financial year, analysts expect that the business will post sales of $8.36 billion per share, with estimates ranging from $8.30 billion to $8.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Veritiv.

Veritiv (NYSE:VRTV) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.02. Veritiv had a positive return on equity of 7.71% and a negative net margin of 0.26%.

A number of equities analysts recently commented on VRTV shares. Barclays cut their price objective on Veritiv from $25.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, November 10th. Zacks Investment Research raised Veritiv from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Bank of America raised Veritiv from a “neutral” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Tuesday, November 21st. Wells Fargo & Co lowered Veritiv from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 8th. Finally, ValuEngine lowered Veritiv from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $31.75.

Veritiv (NYSE VRTV) traded down $0.30 during trading on Wednesday, hitting $22.70. The company had a trading volume of 118,074 shares, compared to its average volume of 106,389. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.51 and a current ratio of 2.36. The firm has a market capitalization of $361.11, a price-to-earnings ratio of -16.57, a P/E/G ratio of 0.82 and a beta of 1.02. Veritiv has a one year low of $20.35 and a one year high of $62.60.

In related news, Director Tracy A. Leinbach acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average cost of $23.69 per share, with a total value of $118,450.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Thrivent Financial For Lutherans increased its holdings in Veritiv by 3.9% in the second quarter. Thrivent Financial For Lutherans now owns 6,860 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 260 shares in the last quarter. California Public Employees Retirement System increased its holdings in Veritiv by 2.5% in the second quarter. California Public Employees Retirement System now owns 49,603 shares of the basic materials company’s stock worth $2,232,000 after purchasing an additional 1,200 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Veritiv by 11.4% in the second quarter. Wells Fargo & Company MN now owns 15,664 shares of the basic materials company’s stock worth $705,000 after purchasing an additional 1,608 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Veritiv by 43.4% in the second quarter. Alliancebernstein L.P. now owns 6,934 shares of the basic materials company’s stock worth $312,000 after purchasing an additional 2,100 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Veritiv by 53.4% in the third quarter. BNP Paribas Arbitrage SA now owns 6,782 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 2,362 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.

WARNING: This piece of content was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://sportsperspectives.com/2018/02/10/brokerages-anticipate-veritiv-corp-vrtv-will-post-quarterly-sales-of-2-15-billion.html.

About Veritiv

Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.

Get a free copy of the Zacks research report on Veritiv (VRTV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Veritiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply