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

Sappi Ltd. (OTCMKTS:SPPJY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $1.52, but opened at $1.43. Sappi shares last traded at $1.35, with a volume of 2,500 shares.

Analyst Ratings Changes

Separately, Zacks Research upgraded 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, According to data from MarketBeat.com, Sappi presently has an average rating of “Hold”.

Sappi Trading Down 10.6%

The firm’s 50-day simple moving average is $1.44 and its 200 day simple moving average is $1.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.63. The firm has a market capitalization of $755.87 million, a price-to-earnings ratio of -4.82, a P/E/G ratio of 0.19 and a beta of 0.61.

Sappi (OTCMKTS:SPPJY) last issued its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Sappi had a negative net margin of 3.27% and a positive return on equity of 1.78%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates 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.