Veritiv Corp (NYSE:VRTV) – SunTrust Banks lifted their Q2 2018 earnings per share estimates for Veritiv in a report released on Monday, Zacks Investment Research reports. SunTrust Banks analyst J. Freuchtel now expects that the basic materials company will post earnings of $0.97 per share for the quarter, up from their previous estimate of $0.96. SunTrust Banks currently has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Veritiv’s Q1 2019 earnings at $0.78 EPS, Q2 2019 earnings at $0.96 EPS, Q3 2019 earnings at $1.07 EPS and Q4 2019 earnings at $1.12 EPS.
A number of other brokerages also recently issued reports on VRTV. Zacks Investment Research raised Veritiv from a “strong sell” rating to a “hold” rating in a report on Thursday, January 25th. ValuEngine downgraded Veritiv from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Bank of America set a $39.00 price target on Veritiv and gave the company a “buy” rating in a report on Monday, March 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $34.25.
Shares of Veritiv (VRTV) traded down $0.35 during trading hours on Tuesday, reaching $38.90. The company’s stock had a trading volume of 127,816 shares, compared to its average volume of 104,932. Veritiv has a one year low of $20.35 and a one year high of $62.60. The firm has a market capitalization of $579.79, a P/E ratio of 11.66, a PEG ratio of 1.08 and a beta of 1.16. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.33 and a quick ratio of 1.53.
Veritiv (NYSE:VRTV) last announced its quarterly earnings results on Thursday, March 1st. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.01). Veritiv had a negative net margin of 0.16% and a positive return on equity of 9.17%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC acquired a new position in shares of Veritiv during the 4th quarter worth approximately $166,000. BNP Paribas Arbitrage SA raised its stake in shares of Veritiv by 53.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,782 shares of the basic materials company’s stock worth $220,000 after buying an additional 2,362 shares during the period. Alps Advisors Inc. acquired a new position in shares of Veritiv during the 4th quarter worth approximately $236,000. Crossmark Global Holdings Inc. acquired a new position in shares of Veritiv during the 3rd quarter worth approximately $246,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Veritiv during the 4th quarter worth approximately $269,000. 94.38% of the stock is owned by institutional investors and hedge funds.
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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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