Sappi (OTCMKTS:SPPJY) Shares Gap Down – Here’s What Happened

Shares of Sappi Ltd. (OTCMKTS:SPPJY) 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 traded.

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 equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Sappi Trading Up 4.2%

The firm has a market capitalization of $570.60 million, a price-to-earnings ratio of -0.85 and a beta of 0.61. The business’s 50-day moving average price is $1.04 and its 200 day moving average price is $1.24. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.18 and a quick ratio of 0.55.

Sappi (OTCMKTS:SPPJY) last released its earnings results on Thursday, May 7th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. Sappi had a negative net margin of 12.70% and a negative return on equity of 4.61%. On average, equities analysts forecast that Sappi Ltd. will post -0.14 earnings per share for the current fiscal year.

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.