Sappi (OTCMKTS:SPPJY) Issues Earnings Results, Meets Expectations

Sappi (OTCMKTS:SPPJY) announced its quarterly earnings results on Wednesday. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03), Zacks reports. Sappi had a negative net margin of 3.27% and a positive return on equity of 1.78%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion.

Sappi Stock Down 0.8%

SPPJY stock opened at $1.23 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.63. Sappi has a one year low of $1.11 and a one year high of $2.90. The company’s 50 day moving average price is $1.44 and its two-hundred day moving average price is $1.48.

Analyst Ratings Changes

Separately, Zacks Research downgraded Sappi from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Sappi presently has an average rating of “Sell”.

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.