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

Shares of Sappi Ltd. (OTCMKTS:SPPJY) gapped up before the market opened on Thursday . The stock had previously closed at $0.83, but opened at $0.8773. Sappi shares last traded at $0.8773, with a volume of 1,000 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research upgraded Sappi from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Sappi Trading Down 2.8%

The company has a market capitalization of $501.80 million, a price-to-earnings ratio of -0.75 and a beta of 0.61. The firm has a 50-day moving average price of $1.00 and a 200-day moving average price of $1.21. The company has a current ratio of 1.35, a quick ratio of 0.55 and a debt-to-equity ratio of 0.91.

Sappi (OTCMKTS:SPPJY) last issued 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 net margin of 12.70% and a negative return on equity of 4.85%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.40 billion. As a group, sell-side analysts predict that Sappi Ltd. will post -0.18 EPS 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.