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

Sappi Ltd. (OTCMKTS:SPPJY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $1.4450, but opened at $1.35. Sappi shares last traded at $1.3595, with a volume of 22,110 shares traded.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Sappi Stock Performance

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 stock’s 50 day moving average price is $1.45 and its 200 day moving average price is $1.50. The company has a market cap of $694.28 million, a price-to-earnings ratio of -4.43, a P/E/G ratio of 0.17 and a beta of 0.61.

Sappi (OTCMKTS:SPPJY) last announced its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations 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.