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%.
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.
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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.
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