Verso (NYSE:VRS) Sees Strong Trading Volume

Verso Co. (NYSE:VRS) shares saw an uptick in trading volume on Friday . 13,637 shares were traded during trading, a decline of 94% from the previous session’s volume of 244,682 shares.The stock last traded at $17.54 and had previously closed at $17.01.

A number of research firms have recently commented on VRS. Zacks Investment Research downgraded shares of Verso from a “buy” rating to a “hold” rating in a research note on Thursday, May 13th. BWS Financial increased their target price on shares of Verso from $25.50 to $30.00 and gave the stock a “strong-buy” rating in a research report on Monday, May 10th.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.43 and a current ratio of 2.65. The stock’s 50-day moving average is $16.26. The stock has a market capitalization of $572.68 million, a P/E ratio of -2.33 and a beta of 2.06.

Verso (NYSE:VRS) last issued its quarterly earnings data on Friday, May 7th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.05. The company had revenue of $282.00 million during the quarter, compared to the consensus estimate of $293.63 million. Verso had a negative net margin of 20.94% and a negative return on equity of 13.60%. Sell-side analysts predict that Verso Co. will post -0.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 29th. Shareholders of record on Thursday, June 17th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Wednesday, June 16th. Verso’s payout ratio is -10.15%.

Several institutional investors and hedge funds have recently modified their holdings of VRS. Thompson Siegel & Walmsley LLC increased its holdings in shares of Verso by 51.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,350 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 800 shares during the period. Royal Bank of Canada boosted its position in shares of Verso by 41.3% in the 1st quarter. Royal Bank of Canada now owns 2,568 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 750 shares during the period. Citigroup Inc. boosted its position in Verso by 196.5% during the 4th quarter. Citigroup Inc. now owns 6,262 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 4,150 shares during the period. Alpha Paradigm Partners LLC acquired a new stake in Verso during the 4th quarter worth about $79,000. Finally, UBS Group AG boosted its position in Verso by 26.7% during the 1st quarter. UBS Group AG now owns 10,179 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 2,146 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Verso Company Profile (NYSE:VRS)

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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