Sappi (OTCMKTS:SPPJY) Sees Strong Trading Volume – Here’s What Happened

Shares of Sappi Ltd. (OTCMKTS:SPPJY) saw unusually-strong trading volume on Friday . Approximately 20,000 shares were traded during mid-day trading, an increase of 116% from the previous session’s volume of 9,260 shares.The stock last traded at $0.84 and had previously closed at $0.83.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Sappi from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

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 firm has a market cap of $507.85 million, a price-to-earnings ratio of -0.76 and a beta of 0.61. The company has a fifty day moving average price of $1.01 and a two-hundred day moving average price of $1.21.

Sappi (OTCMKTS:SPPJY) last released its earnings results on Thursday, May 7th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.40 billion. As a group, equities research analysts expect that Sappi Ltd. will post -0.18 EPS for the current 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.