Shares of Sappi Ltd. (OTCMKTS:SPPJY – Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.03 and traded as low as $0.72. Sappi shares last traded at $0.78, with a volume of 132,782 shares traded.
Analysts Set New Price Targets
Separately, Zacks Research downgraded shares of Sappi from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.
Read Our Latest Stock Analysis on Sappi
Sappi Stock Up 4.4%
Sappi (OTCMKTS:SPPJY – Get Free Report) last released its earnings results on Thursday, May 7th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. Sappi had a negative return on equity of 4.85% and a negative net margin of 12.70%. On average, sell-side analysts forecast that Sappi Ltd. will post -0.2 earnings per share for the current year.
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.
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