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

Sappi Ltd. (OTCMKTS:SPPJY) gapped down prior to trading on Wednesday . The stock had previously closed at $1.6050, but opened at $1.55. Sappi shares last traded at $1.55, with a volume of 188 shares trading hands.

Wall Street Analysts Forecast Growth

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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Sappi Stock Down 3.4%

The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.52. The firm has a market cap of $895.84 million, a price-to-earnings ratio of -5.54, a P/E/G ratio of 0.20 and a beta of 0.61.

Sappi (OTCMKTS:SPPJY) last issued its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.34 billion. Sappi had a negative net margin of 3.27% and a positive return on equity of 1.78%.

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.