Sappi (OTCMKTS:SPPJY) Posts Earnings Results, Hits Expectations

Sappi (OTCMKTS:SPPJY) announced its quarterly 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 net margin of 15.44% and a negative return on equity of 6.41%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.37 billion.

Sappi Stock Performance

OTCMKTS SPPJY opened at $0.79 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $0.82 and a 200 day simple moving average of $0.92. Sappi has a 12 month low of $0.59 and a 12 month high of $1.72. The firm has a market capitalization of $477.89 million, a P/E ratio of -0.64, a PEG ratio of 0.28 and a beta of 0.59.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Sappi from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Sappi 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.