Veritiv (VRTV) Expected to Post Quarterly Sales of $2.08 Billion

Equities analysts forecast that Veritiv (NYSE:VRTV) will report sales of $2.08 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Veritiv’s earnings, with the lowest sales estimate coming in at $2.07 billion and the highest estimate coming in at $2.09 billion. Veritiv posted sales of $2.03 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The firm is scheduled to issue its next earnings results on Wednesday, August 1st.

According to Zacks, analysts expect that Veritiv will report full-year sales of $8.53 billion for the current fiscal year, with estimates ranging from $8.51 billion to $8.54 billion. For the next financial year, analysts forecast that the company will post sales of $8.49 billion per share, with estimates ranging from $8.49 billion to $8.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Veritiv.

Veritiv (NYSE:VRTV) last issued its quarterly earnings data on Tuesday, May 8th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.15). Veritiv had a positive return on equity of 8.92% and a negative net margin of 0.32%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year.

Several equities research analysts recently weighed in on VRTV shares. Zacks Investment Research raised shares of Veritiv from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 25th. SunTrust Banks downgraded shares of Veritiv from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. ValuEngine downgraded shares of Veritiv from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Bank of America set a $39.00 target price on shares of Veritiv and gave the stock a “buy” rating in a research note on Monday, March 5th. Finally, Wells Fargo & Co upped their target price on shares of Veritiv from $30.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, April 2nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.40.

Several large investors have recently made changes to their positions in VRTV. Wells Fargo & Company MN increased its position in shares of Veritiv by 28.0% in the 3rd quarter. Wells Fargo & Company MN now owns 20,048 shares of the basic materials company’s stock valued at $651,000 after purchasing an additional 4,384 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Veritiv by 10.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 696,156 shares of the basic materials company’s stock valued at $22,626,000 after purchasing an additional 67,374 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Veritiv by 39.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 162,930 shares of the basic materials company’s stock valued at $4,709,000 after purchasing an additional 46,359 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Veritiv in the 4th quarter valued at approximately $236,000. Finally, Crossmark Global Holdings Inc. increased its position in shares of Veritiv by 78.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,512 shares of the basic materials company’s stock valued at $390,000 after purchasing an additional 5,956 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

VRTV traded up $0.05 during trading hours on Friday, hitting $33.15. 33,243 shares of the company’s stock were exchanged, compared to its average volume of 97,906. Veritiv has a 12-month low of $20.35 and a 12-month high of $46.10. The company has a market cap of $531.41 million, a P/E ratio of -39.00, a PEG ratio of 1.53 and a beta of 0.55. The company has a quick ratio of 1.60, a current ratio of 2.43 and a debt-to-equity ratio of 1.81.

About Veritiv

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.

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Earnings History and Estimates for Veritiv (NYSE:VRTV)

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