Veritiv (NYSE:VRTV) released its earnings results on Thursday, May 9th. The basic materials company reported ($1.68) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($2.11), Briefing.com reports. Veritiv had a positive return on equity of 0.48% and a negative net margin of 0.31%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm earned $0.28 EPS. The firm’s revenue was down 7.6% on a year-over-year basis.
Shares of Veritiv stock opened at $17.66 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.46 and a debt-to-equity ratio of 1.80. The stock has a market cap of $292.25 million, a price-to-earnings ratio of 151.50 and a beta of 1.14. Veritiv has a 1-year low of $17.38 and a 1-year high of $51.00.
Several research analysts have recently issued reports on VRTV shares. Bank of America upgraded shares of Veritiv from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Tuesday, March 5th. They noted that the move was a valuation call. SunTrust Banks dropped their price objective on shares of Veritiv to $30.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th. ValuEngine cut shares of Veritiv from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research cut shares of Veritiv from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $36.00.
Veritiv Company Profile
Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.
Further Reading: Commodities
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.