Sappi (OTCMKTS:SPPJY) Shares Cross Below 200-Day Moving Average – Here’s Why
by Teresa Graham · The Cerbat GemShares of Sappi Ltd. (OTCMKTS:SPPJY – Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.37 and traded as low as $1.09. Sappi shares last traded at $1.09, with a volume of 1,411 shares trading hands.
Analysts Set New Price Targets
Separately, Zacks Research cut Sappi from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.
Get Our Latest Report on Sappi
Sappi Trading Up 3.8%
The firm’s 50-day simple moving average is $1.22 and its 200 day simple moving average is $1.36. The stock has a market cap of $610.29 million, a P/E ratio of -2.37 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65.
Sappi (OTCMKTS:SPPJY – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Sappi had a negative return on equity of 2.34% and a negative net margin of 5.31%.The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion.
About Sappi
Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.
Sappi’s product portfolio is organized into several main categories.