Sappi (OTCMKTS:SPPJY) Shares Gap Down – Here’s What Happened
by Amy Steele · The Cerbat GemSappi Ltd. (OTCMKTS:SPPJY – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $0.9479, but opened at $0.91. Sappi shares last traded at $0.91, with a volume of 100 shares trading hands.
Wall Street Analyst Weigh In
Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Sappi presently has an average rating of “Hold”.
View Our Latest Stock Report on SPPJY
Sappi Stock Performance
The company has a debt-to-equity ratio of 0.65, a current ratio of 1.18 and a quick ratio of 0.55. The business has a 50 day moving average price of $1.03 and a 200 day moving average price of $1.23. The stock has a market capitalization of $498.36 million, a PE ratio of -0.74 and a beta of 0.61.
Sappi (OTCMKTS:SPPJY – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Sappi had a negative return on equity of 4.61% and a negative net margin of 12.70%.The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.40 billion. As a group, equities research analysts expect that Sappi Ltd. will post -0.14 earnings per share for the current year.
Sappi Company Profile
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.