Zacks: Verso Corp (VRS) Given $38.00 Average Price Target by Brokerages

Verso Corp (NYSE:VRS) has been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. Verso’s rating score has declined by 100% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 1 year consensus target price of $38.00 for the company and are predicting that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also given Verso an industry rank of 220 out of 256 based on the ratings given to related companies.

Several analysts recently issued reports on the company. B. Riley downgraded Verso from a “buy” rating to a “neutral” rating and cut their price target for the stock from $32.00 to $26.00 in a report on Friday, April 12th. ValuEngine lowered Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research lowered Verso from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 6th.

Shares of NYSE VRS traded down $0.72 during mid-day trading on Friday, reaching $17.22. The company had a trading volume of 13,522 shares, compared to its average volume of 313,950. The company has a current ratio of 2.21, a quick ratio of 0.69 and a debt-to-equity ratio of 0.05. The stock has a market cap of $603.43 million, a PE ratio of 4.66 and a beta of 1.52. Verso has a 52 week low of $17.51 and a 52 week high of $34.60.

Verso (NYSE:VRS) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.68. The firm had revenue of $639.00 million for the quarter, compared to analysts’ expectations of $632.26 million. Verso had a net margin of 7.79% and a return on equity of 19.09%. As a group, sell-side analysts forecast that Verso will post 2.85 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Verso by 53.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,106 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 737 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Verso by 191.8% in the 4th quarter. Meeder Asset Management Inc. now owns 2,197 shares of the basic materials company’s stock valued at $49,000 after buying an additional 1,444 shares during the period. Legal & General Group Plc grew its position in Verso by 24.3% in the 4th quarter. Legal & General Group Plc now owns 6,504 shares of the basic materials company’s stock valued at $145,000 after acquiring an additional 1,272 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Verso in the 4th quarter valued at about $192,000. Finally, One Wealth Advisors LLC acquired a new position in Verso in the 1st quarter valued at about $193,000. Hedge funds and other institutional investors own 92.57% of the company’s stock.

Verso Company Profile

Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.

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