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

Sappi Ltd. (OTCMKTS:SPPJY) gapped down prior to trading on Wednesday . The stock had previously closed at $1.4450, but opened at $1.35. Sappi shares last traded at $1.3595, with a volume of 22,110 shares changing 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 report on Monday, November 3rd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Sappi Trading Down 5.9%

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 1.20. The company has a market capitalization of $813.26 million, a price-to-earnings ratio of -4.86, a price-to-earnings-growth ratio of 0.18 and a beta of 0.61. The firm has a fifty day moving average price of $1.45 and a 200-day moving average price of $1.50.

Sappi (OTCMKTS:SPPJY) last posted its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). Sappi had a positive return on equity of 1.78% and a negative net margin of 3.27%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate 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.