Verso Co. (NYSE:VRS) announced a quarterly dividend on Friday, August 6th, Zacks reports. Shareholders of record on Friday, September 17th will be paid a dividend of 0.10 per share by the basic materials company on Tuesday, September 28th. This represents a $0.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, September 16th.
Verso has a payout ratio of -64.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Verso to earn ($0.01) per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of -4,000.0%.
Shares of NYSE VRS opened at $19.31 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 1.39 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $630.47 million, a PE ratio of -3.31 and a beta of 1.99. The stock’s fifty day simple moving average is $19.12 and its two-hundred day simple moving average is $17.06. Verso has a 12-month low of $7.36 and a 12-month high of $20.34.
A number of equities analysts recently issued reports on VRS shares. B. Riley lowered Verso from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $18.00 to $20.00 in a research note on Monday, August 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded Verso from a “sell” rating to a “hold” rating in a research note on Saturday, July 10th. Finally, TheStreet upgraded Verso from a “d+” rating to a “c” rating in a research note on Thursday, August 26th.
Verso Company Profile
Verso Corp. engages in the production and supply of coated paper and products. The firm operates through the following segments: Paper and Pulp business. It offers paper products ranging from web, coated, digital, specialty and book and uncoated. The company was founded on August 1, 2006 and is headquartered in Miamisburg, OH.
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