Sappi (OTCMKTS:SPPJY) Issues Quarterly Earnings Results, Hits Expectations

Sappi (OTCMKTS:SPPJY) released its earnings results on Friday. The basic materials company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03), Zacks reports. Sappi had a negative return on equity of 6.41% and a negative net margin of 15.44%.

Sappi Price Performance

Sappi stock traded down $0.05 during mid-day trading on Friday, reaching $0.74. The company had a trading volume of 1,100 shares, compared to its average volume of 832. The stock’s 50-day simple moving average is $0.82 and its 200-day simple moving average is $0.93. The company has a market capitalization of $449.63 million, a P/E ratio of -0.55, a P/E/G ratio of 0.26 and a beta of 0.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.27 and a quick ratio of 0.66. Sappi has a 1 year low of $0.59 and a 1 year high of $1.72.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Sappi from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

About Sappi

Sappi Limited is a global forest-products company that produces woodfibre-based materials for customers in packaging, textiles, printing, publishing, and other industrial markets. Its portfolio includes dissolving pulp, packaging and speciality papers, graphic papers, and related biomaterials.

The company’s dissolving pulp is used in products such as textiles, nonwoven materials, pharmaceutical applications, and food-related products. Sappi also manufactures coated and uncoated papers for commercial printing, publishing, advertising, and office use, as well as flexible packaging papers, label papers, and other speciality products.

Founded in South Africa in 1936 as South African Pulp and Paper Industries, Sappi has developed into an international business with manufacturing operations and sales activities across Europe, North America, and Southern Africa.