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

Sappi Ltd. (OTCMKTS:SPPJY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $1.05, but opened at $0.9439. Sappi shares last traded at $0.9439, with a volume of 2,000 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised 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, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Sappi Stock Down 5.6%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 1.18. The company has a market capitalization of $570.66 million, a PE ratio of -2.05 and a beta of 0.69. The firm’s 50-day simple moving average is $1.08 and its 200 day simple moving average is $1.28.

Sappi (OTCMKTS:SPPJY) last announced its quarterly earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Sappi had a negative net margin of 5.31% and a negative return on equity of 2.34%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. As a group, equities research analysts forecast that Sappi Ltd. will post -0.11 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.