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

Sappi Ltd. (OTCMKTS:SPPJY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $1.16, but opened at $1.03. Sappi shares last traded at $1.03, with a volume of 203 shares traded.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Sappi from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Sappi has an average rating of “Hold”.

Sappi Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 1.18. The firm has a market capitalization of $622.72 million, a P/E ratio of -2.24 and a beta of 0.69. The stock’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.28.

Sappi (OTCMKTS:SPPJY) last issued its earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sappi had a negative net margin of 5.31% and a negative return on equity of 2.34%. As a group, analysts expect that Sappi Ltd. will post -0.02 earnings per share for the current fiscal year.

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.