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 $0.9479, but opened at $0.91. Sappi shares last traded at $0.91, with a volume of 100 shares traded.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Sappi Price Performance

The company has a current ratio of 1.18, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $570.60 million, a PE ratio of -0.85 and a beta of 0.61. The firm has a 50 day moving average price of $1.04 and a 200 day moving average price of $1.24.

Sappi (OTCMKTS:SPPJY) last posted its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Sappi had a negative return on equity of 4.61% and a negative net margin of 12.70%.The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Research analysts anticipate that Sappi Ltd. will post -0.14 earnings per share for the current 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.