Veritiv (NYSE:VRTV) Updates FY 2022 Earnings Guidance

Posted by on Jun 6th, 2022

Veritiv (NYSE:VRTV – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $18.00-$21.00 for the period, compared to the consensus earnings per share estimate of $14.70. The company issued revenue guidance of -.

Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Veritiv from a hold rating to a strong-buy rating and set a $138.00 price target for the company in a research report on Saturday, March 5th. StockNews.com assumed coverage on shares of Veritiv in a research report on Thursday, March 31st. They set a strong-buy rating for the company.

Shares of NYSE VRTV opened at $154.73 on Monday. The stock has a market cap of $2.27 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.56 and a beta of 2.09. The firm has a 50 day moving average price of $140.33 and a 200 day moving average price of $122.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.52 and a current ratio of 1.96. Veritiv has a 52-week low of $55.11 and a 52-week high of $159.41.

Veritiv (NYSE:VRTV – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The basic materials company reported $5.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $1.39. Veritiv had a net margin of 2.82% and a return on equity of 33.45%. During the same quarter in the previous year, the company earned $1.28 earnings per share. Analysts predict that Veritiv will post 18.4 earnings per share for the current fiscal year.

In related news, Director Stephen E. Macadam purchased 1,600 shares of the business’s stock in a transaction on Tuesday, March 22nd. The shares were purchased at an average price of $126.53 per share, with a total value of $202,448.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE lifted its position in shares of Veritiv by 1,390.0% in the first quarter. US Bancorp DE now owns 447 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 417 shares in the last quarter. Carolinas Wealth Consulting LLC bought a new stake in shares of Veritiv in the first quarter worth $67,000. Lazard Asset Management LLC lifted its position in shares of Veritiv by 243.4% in the first quarter. Lazard Asset Management LLC now owns 910 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 645 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Veritiv by 31.9% in the first quarter. Captrust Financial Advisors now owns 1,554 shares of the basic materials company’s stock worth $208,000 after purchasing an additional 376 shares in the last quarter. Finally, Guggenheim Capital LLC bought a new stake in shares of Veritiv in the first quarter worth $222,000. 88.32% of the stock is currently owned by hedge funds and other institutional investors.

About Veritiv (Get Rating)

Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. The Packaging segment provides custom and standard packaging solutions.

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