Klabin (OTCMKTS:KLBAY) Shares Gap Up – Here’s What Happened

Shares of Klabin SA (OTCMKTS:KLBAY) gapped up before the market opened on Thursday. The stock had previously closed at $7.02, but opened at $7.5125. Klabin shares last traded at $7.5125, with a volume of 6,000 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Klabin from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 3rd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Klabin has an average rating of “Hold”.

Klabin Stock Performance

The company has a market capitalization of $22.75 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61. The business’s fifty day moving average is $7.23 and its two-hundred day moving average is $7.05. The company has a current ratio of 2.00, a quick ratio of 1.55 and a debt-to-equity ratio of 2.04.

Klabin (OTCMKTS:KLBAY) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Klabin had a net margin of 1.26% and a return on equity of 1.72%. Equities research analysts predict that Klabin SA will post 0.27 earnings per share for the current year.

About Klabin

Klabin SA is a Brazilian producer of paper, packaging and forestry products. Founded in 1899, the company operates an integrated business model that includes planted forests, pulp production, paper manufacturing and the conversion of paper into packaging products.

Klabin’s product portfolio includes corrugated boxes, industrial bags, paperboard, kraft paper and other paper-based packaging solutions. It also produces hardwood and softwood pulp, which is used internally and sold to customers in the paper and packaging industries.